Voya Investment Management LLC Decreases Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Voya Investment Management LLC lowered its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 60.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 297,714 shares of the industrial products company's stock after selling 463,976 shares during the quarter. Voya Investment Management LLC owned approximately 0.06% of Caterpillar worth $107,999,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Caterpillar by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company's stock valued at $16,980,629,000 after buying an additional 284,366 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Caterpillar by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company's stock worth $3,790,841,000 after purchasing an additional 236,315 shares during the period. Fisher Asset Management LLC raised its holdings in Caterpillar by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company's stock worth $3,294,505,000 after purchasing an additional 129,143 shares during the period. Norges Bank purchased a new position in Caterpillar during the fourth quarter worth approximately $2,184,364,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Caterpillar by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,289,101 shares of the industrial products company's stock valued at $1,193,154,000 after purchasing an additional 61,723 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Buying and Selling at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction on Tuesday, February 4th. The stock was bought at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the purchase, the director now owns 3,053 shares in the company, valued at $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the transaction, the insider now directly owns 6,275 shares in the company, valued at $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Evercore ISI boosted their price target on shares of Caterpillar from $365.00 to $375.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and upped their price target for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. Truist Financial lowered their price objective on Caterpillar from $438.00 to $389.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. DA Davidson reduced their target price on Caterpillar from $357.00 to $325.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Finally, Bank of America decreased their target price on shares of Caterpillar from $452.00 to $414.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Caterpillar has an average rating of "Hold" and a consensus target price of $361.75.

Caterpillar Stock Down 0.9 %

CAT traded down $2.86 during trading hours on Wednesday, hitting $304.54. 1,988,088 shares of the company's stock were exchanged, compared to its average volume of 2,619,593. The company has a current ratio of 1.42, a quick ratio of 0.89 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 firm has a market cap of $145.55 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21. The firm has a 50 day moving average of $319.66 and a 200 day moving average of $359.12.

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

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Monday, April 21st will be issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Monday, April 21st. Caterpillar's dividend payout ratio (DPR) is 25.56%.

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.