Obermeyer Wealth Partners Has $241,000 Stake in Caterpillar Inc. (NYSE:CAT)

Obermeyer Wealth Partners cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 86.2% during the 4th quarter, Holdings Channel reports. The firm owned 665 shares of the industrial products company’s stock after selling 4,156 shares during the quarter. Obermeyer Wealth Partners’ holdings in Caterpillar were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CAT. Flagship Wealth Advisors LLC acquired a new position in Caterpillar in the 4th quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Caterpillar during the fourth quarter worth about $27,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Caterpillar in the 4th quarter valued at $27,000. Noble Wealth Management PBC acquired a new stake in Caterpillar in the fourth quarter valued at about $31,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Caterpillar in the 4th quarter valued at approximately $34,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CAT shares. Evercore ISI lifted their price target on Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Bank of America dropped their price target on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. DA Davidson upped their price target on Caterpillar from $325.00 to $331.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $355.00 to $385.00 in a report on Monday, February 3rd. Finally, Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $377.83.

Insider Buying and Selling

In other news, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the transaction, the insider now directly owns 6,275 shares in the company, valued at approximately $2,225,742.50. This represents a 27.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Maclennan bought 375 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was purchased at an average cost of $320.70 per share, with a total value of $120,262.50. Following the purchase, the director now owns 6,653 shares of the company’s stock, valued at $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

Caterpillar Price Performance

CAT opened at $352.58 on Wednesday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50. The company has a market capitalization 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 quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The firm has a 50-day moving average price of $317.07 and a 200-day moving average price of $354.64.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). The firm had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Caterpillar’s revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $5.60 EPS. Equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

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

Caterpillar Company 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.