Caterpillar Inc. $CAT Shares Sold by BLI Banque de Luxembourg Investments

BLI Banque de Luxembourg Investments lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,895 shares of the industrial products company's stock after selling 1,465 shares during the period. BLI Banque de Luxembourg Investments' holdings in Caterpillar were worth $29,393,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund increased its position in Caterpillar by 7.3% during the third quarter. Illinois Municipal Retirement Fund now owns 17,262 shares of the industrial products company's stock worth $8,237,000 after purchasing an additional 1,181 shares during the last quarter. Caprock Group LLC acquired a new position in Caterpillar during the third quarter worth approximately $8,893,000. State of New Jersey Common Pension Fund D increased its position in Caterpillar by 2.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 165,677 shares of the industrial products company's stock worth $79,053,000 after purchasing an additional 4,010 shares during the last quarter. Juno Financial Group LLC acquired a new position in Caterpillar during the fourth quarter worth approximately $877,000. Finally, ARK Investment Management LLC increased its position in Caterpillar by 11.7% during the third quarter. ARK Investment Management LLC now owns 31,144 shares of the industrial products company's stock worth $14,860,000 after purchasing an additional 3,268 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Wall Street Analyst Weigh In

CAT has been the subject of several research analyst reports. Sanford C. Bernstein upped their price target on shares of Caterpillar from $769.00 to $879.00 and gave the stock a "market perform" rating in a research report on Friday, May 1st. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Caterpillar in a research report on Friday, May 8th. Wells Fargo & Company upped their price target on shares of Caterpillar from $960.00 to $1,050.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Barclays upped their price target on shares of Caterpillar from $700.00 to $800.00 and gave the stock an "equal weight" rating in a research report on Friday, May 1st. Finally, Truist Financial set a $1,043.00 price objective on shares of Caterpillar in a research note on Friday, May 1st. Sixteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $933.27.

Caterpillar Price Performance

CAT opened at $915.27 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Caterpillar Inc. has a 52-week low of $353.92 and a 52-week high of $946.83. The company has a 50 day moving average of $836.25 and a two-hundred day moving average of $718.16. The company has a market cap of $421.57 billion, a P/E ratio of 45.56, a P/E/G ratio of 1.78 and a beta of 1.59.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.65 by $0.89. The company had revenue of $17.42 billion during the quarter, compared to the consensus estimate of $16.53 billion. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. Caterpillar's revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm earned $4.25 earnings per share. On average, analysts expect that Caterpillar Inc. will post 24.68 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Monday, April 20th were paid a $1.51 dividend. The ex-dividend date was Monday, April 20th. This represents a $6.04 annualized dividend and a dividend yield of 0.7%. Caterpillar's dividend payout ratio is 30.06%.

Insiders Place Their Bets

In other news, CFO Andrew R. J. Bonfield sold 15,674 shares of the company's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $918.71, for a total value of $14,399,860.54. Following the completion of the transaction, the chief financial officer directly owned 52,935 shares in the company, valued at approximately $48,631,913.85. This represents a 22.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anthony D. Fassino sold 16,283 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the completion of the transaction, the insider owned 46,041 shares of the company's stock, valued at $42,210,388.80. This trade represents a 26.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 95,773 shares of company stock valued at $87,642,635. Corporate insiders own 0.33% of the company's stock.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company's product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.