JT Stratford LLC Reduces Stock Position in Caterpillar Inc. (NYSE:CAT)

JT Stratford LLC cut its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 26.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,244 shares of the industrial products company's stock after selling 2,230 shares during the period. JT Stratford LLC's holdings in Caterpillar were worth $2,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position 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 worth $16,980,629,000 after acquiring an additional 284,366 shares during the period. Geode Capital Management LLC lifted its stake in Caterpillar by 2.3% during the fourth 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 in the last quarter. Fisher Asset Management LLC lifted its stake in Caterpillar by 1.4% during the fourth 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 in the last quarter. Northern Trust Corp lifted its stake in Caterpillar by 11.8% during the fourth quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock worth $2,483,937,000 after purchasing an additional 724,477 shares in the last quarter. Finally, Norges Bank acquired a new position in Caterpillar during the fourth quarter worth $2,184,364,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Down 2.0%

Caterpillar stock opened at $342.67 on Thursday. The stock's fifty day moving average is $318.06 and its two-hundred day moving average is $353.46. The stock has a market cap of $161.41 billion, a PE ratio of 15.53, a P/E/G ratio of 1.87 and a beta of 1.35. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (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 return on equity of 58.18% and a net margin of 16.65%. The business's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $5.60 EPS. On average, sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st were issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Monday, April 21st. Caterpillar's payout ratio is 27.49%.

Insiders Place Their Bets

In other news, Director David Maclennan acquired 375 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the acquisition, the director now owns 6,653 shares in the company, valued at $2,133,617.10. This trade represents a 5.97% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CAT shares. Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. 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. Truist Financial reiterated a "buy" rating and issued a $396.00 price objective (up from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Wedbush upgraded Caterpillar to an "outperform" rating in a research note on Monday, February 3rd. Finally, UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and increased their price objective for the company from $272.00 to $357.00 in a research note on Friday, May 16th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Caterpillar has a consensus rating of "Moderate Buy" and a consensus price target of $375.33.

Caterpillar 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.

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