Hillsdale Investment Management Inc. Sells 1,680 Shares of Caterpillar Inc. $CAT

Key Points

• Hillsdale Investment Management cut its Caterpillar stake by 27.2% in the fourth quarter, selling 1,680 shares and leaving it with 4,487 shares valued at about $2.57 million.
• Analysts remain constructive on Caterpillar, with a consensus rating of “Moderate Buy” and an average price target of $923.14; several firms recently raised their targets, including Wolfe Research, Bank of America, and Jefferies.
• Caterpillar posted strong quarterly results, reporting EPS of $5.54 and revenue of $17.42 billion, both above expectations, while revenue rose 22.2% year over year.

Hillsdale Investment Management Inc. decreased its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 27.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,487 shares of the industrial products company's stock after selling 1,680 shares during the quarter. Hillsdale Investment Management Inc.'s holdings in Caterpillar were worth $2,570,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Torren Management LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at $27,000. Frazier Financial Advisors LLC raised its stake in shares of Caterpillar by 220.0% in the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 33 shares during the period. IFS Advisors LLC purchased a new position in Caterpillar in the 4th quarter worth about $31,000. Rialto Wealth Management LLC increased its stake in Caterpillar by 47.4% in the 4th quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company's stock worth $32,000 after buying an additional 18 shares during the period. Finally, Noble Wealth Management PBC increased its stake in Caterpillar by 140.0% in the 4th quarter. Noble Wealth Management PBC now owns 60 shares of the industrial products company's stock worth $34,000 after buying an additional 35 shares during the period. Institutional investors own 70.98% of the company's stock.

Analyst Ratings Changes

CAT has been the topic of several recent research reports. Wolfe Research increased their target price on shares of Caterpillar from $670.00 to $750.00 and gave the stock an "outperform" rating in a report on Tuesday, March 31st. Morgan Stanley set a $915.00 target price on shares of Caterpillar and gave the stock an "equal weight" rating in a report on Friday, May 1st. Evercore reiterated an "outperform" rating and set a $1,103.00 target price on shares of Caterpillar in a report on Monday, May 11th. Bank of America increased their target price on shares of Caterpillar from $930.00 to $989.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Finally, Jefferies Financial Group increased their target price on shares of Caterpillar from $900.00 to $1,045.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Sixteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $923.14.

Insider Buying and Selling

In other Caterpillar news, CAO William E. Schaupp sold 360 shares of Caterpillar stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $906.00, for a total transaction of $326,160.00. Following the sale, the chief accounting officer owned 530 shares of the company's stock, valued at $480,180. The trade was a 40.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anthony D. Fassino sold 16,283 shares of Caterpillar stock in a transaction on Monday, May 11th. The stock was sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the sale, the insider directly owned 46,041 shares in the company, valued at approximately $42,210,388.80. This trade represents a 26.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 98,273 shares of company stock worth $89,439,960 in the last 90 days. 0.33% of the stock is owned by insiders.

Caterpillar Stock Performance

CAT opened at $872.61 on Monday. Caterpillar Inc. has a 12-month low of $339.50 and a 12-month high of $931.35. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $401.91 billion, a PE ratio of 43.43, a P/E/G ratio of 1.73 and a beta of 1.59. The firm has a 50 day moving average of $811.10 and a two-hundred day moving average of $703.24.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.65 by $0.89. The company had revenue of $17.42 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm posted $4.25 EPS. On average, analysts anticipate that Caterpillar Inc. will post 24.67 EPS for the current year.

Caterpillar Dividend Announcement

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

Caterpillar Company Profile

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.

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