Nuveen Asset Management LLC Sells 151,226 Shares of Caterpillar Inc. (NYSE:CAT)

Nuveen Asset Management LLC cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 6.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,198,389 shares of the industrial products company’s stock after selling 151,226 shares during the quarter. Nuveen Asset Management LLC owned 0.46% of Caterpillar worth $797,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. EWG Elevate Inc. bought a new stake in Caterpillar during the fourth quarter worth about $216,000. Fiduciary Alliance LLC lifted its position in Caterpillar by 47.0% in the 4th quarter. Fiduciary Alliance LLC now owns 1,745 shares of the industrial products company’s stock worth $633,000 after buying an additional 558 shares during the last quarter. BCS Wealth Management purchased a new stake in Caterpillar in the fourth quarter worth approximately $760,000. Traveka Wealth LLC grew its position in Caterpillar by 6.2% during the fourth quarter. Traveka Wealth LLC now owns 1,251 shares of the industrial products company’s stock valued at $454,000 after acquiring an additional 73 shares during the last quarter. Finally, PSI Advisors LLC raised its stake in shares of Caterpillar by 5.8% during the fourth quarter. PSI Advisors LLC now owns 2,473 shares of the industrial products company’s stock worth $897,000 after acquiring an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CAT shares. Citigroup increased their target price on shares of Caterpillar from $320.00 to $370.00 and gave the company a “buy” rating in a report on Monday, May 5th. Robert W. Baird upgraded shares of Caterpillar from a “neutral” rating to an “outperform” rating and upped their price target for the company from $309.00 to $395.00 in a research report on Tuesday. JPMorgan Chase & Co. decreased their price objective on Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Morgan Stanley upgraded Caterpillar from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Finally, Evercore ISI raised their price target on Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $377.83.

Caterpillar Stock Up 2.9%

Shares of Caterpillar stock opened at $352.58 on Wednesday. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50. The firm has a market cap of $166.08 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.87 and a beta of 1.35. The company has a 50-day moving average of $317.07 and a 200 day moving average of $354.64. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The company had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same period in the prior year, the firm earned $5.60 earnings per share. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Monday, April 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Monday, April 21st. Caterpillar’s payout ratio is 27.49%.

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the purchase, the director now directly owns 6,653 shares of the company’s stock, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the transaction, the insider now owns 6,275 shares in the company, valued at approximately $2,225,742.50. This trade represents a 27.87% decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company 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.