Logan Capital Management Inc. Sells 1,437 Shares of Caterpillar Inc. (NYSE:CAT)

Logan Capital Management Inc. reduced its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,924 shares of the industrial products company's stock after selling 1,437 shares during the period. Logan Capital Management Inc.'s holdings in Caterpillar were worth $8,679,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on CAT shares. Bank of America dropped their price objective 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 boosted their target price on shares of Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a report on Monday, May 5th. JPMorgan Chase & Co. cut their target price on Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Robert W. Baird upgraded shares of Caterpillar from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $309.00 to $395.00 in a research note on Tuesday. Finally, Truist Financial restated a "buy" rating and set a $396.00 target price (up from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $377.83.

Caterpillar Stock Down 0.0%

Shares of NYSE:CAT traded down $0.15 during trading on Thursday, hitting $349.51. The stock had a trading volume of 1,580,357 shares, compared to its average volume of 2,640,279. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50. The company has a market capitalization of $164.63 billion, a PE ratio of 15.84, a PEG ratio of 1.87 and a beta of 1.35. The firm's fifty day moving average is $317.05 and its 200 day moving average is $354.61.

Caterpillar (NYSE:CAT - Get Free Report) last posted 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 business had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The company's revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $5.60 EPS. Analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st will be given a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Monday, April 21st. Caterpillar's dividend payout ratio is presently 27.49%.

Insider Buying and Selling

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction on 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 sale, the insider now owns 6,275 shares of the company's stock, valued at approximately $2,225,742.50. This trade represents a 27.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Maclennan purchased 375 shares of the stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the acquisition, the director now owns 6,653 shares of the company's stock, valued at approximately $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 currently owned by company insiders.

About Caterpillar

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.