Tilt Investment Management Holdings PBC Sells 654 Shares of Caterpillar Inc. (NYSE:CAT)

Tilt Investment Management Holdings PBC cut its position in Caterpillar Inc. (NYSE:CAT) by 24.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,051 shares of the industrial products company’s stock after selling 654 shares during the quarter. Tilt Investment Management Holdings PBC’s holdings in Caterpillar were worth $606,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Waterway Wealth Management LLC acquired a new stake in Caterpillar during the 4th quarter valued at $352,000. Farmers Trust Co. grew its holdings in shares of Caterpillar by 2.7% during the fourth quarter. Farmers Trust Co. now owns 4,490 shares of the industrial products company’s stock worth $1,328,000 after purchasing an additional 120 shares during the last quarter. Firethorn Wealth Partners LLC raised its holdings in shares of Caterpillar by 19.4% in the fourth quarter. Firethorn Wealth Partners LLC now owns 1,825 shares of the industrial products company’s stock valued at $540,000 after buying an additional 296 shares during the last quarter. Panagora Asset Management Inc. lifted its position in Caterpillar by 16.7% during the 3rd quarter. Panagora Asset Management Inc. now owns 367,655 shares of the industrial products company’s stock worth $100,370,000 after buying an additional 52,576 shares in the last quarter. Finally, Rise Advisors LLC grew its holdings in Caterpillar by 7.8% during the 4th quarter. Rise Advisors LLC now owns 1,074 shares of the industrial products company’s stock worth $318,000 after acquiring an additional 78 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Down 0.2 %

CAT traded down $0.87 during mid-day trading on Thursday, hitting $357.45. The stock had a trading volume of 1,193,488 shares, compared to its average volume of 2,418,054. Caterpillar Inc. has a 1-year low of $204.04 and a 1-year high of $382.01. The firm has a market capitalization of $178.51 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.35 and a quick ratio of 0.87. The stock’s fifty day simple moving average is $345.24 and its 200-day simple moving average is $296.78.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, topping the consensus estimate of $4.76 by $0.47. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The business had revenue of $17.07 billion for the quarter, compared to the consensus estimate of $17.06 billion. During the same quarter last year, the business posted $3.86 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. As a group, research analysts forecast that Caterpillar Inc. will post 21.33 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be issued a dividend of $1.30 per share. The ex-dividend date is Friday, April 19th. This represents a $5.20 annualized dividend and a yield of 1.45%. Caterpillar’s dividend payout ratio (DPR) is currently 25.82%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CAT. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research note on Tuesday. Truist Financial assumed coverage on Caterpillar in a report on Thursday, March 14th. They set a “buy” rating and a $390.00 price objective on the stock. Morgan Stanley started coverage on Caterpillar in a research note on Monday, January 8th. They issued an “equal weight” rating and a $270.00 target price for the company. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a research note on Thursday. Finally, Evercore ISI lowered Caterpillar from an “outperform” rating to an “in-line” rating and lifted their price objective for the stock from $321.00 to $338.00 in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and a consensus price target of $307.56.

Insider Buying and Selling at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $300.04, for a total value of $3,000,400.00. Following the sale, the chief financial officer now directly owns 67,317 shares of the company’s stock, valued at approximately $20,197,792.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Caterpillar news, insider Lange Bob De sold 21,194 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the sale, the insider now directly owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the transaction, the chief financial officer now owns 67,317 shares of the company’s stock, valued at $20,197,792.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,769 shares of company stock valued at $14,509,306. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.