Nissay Asset Management Corp Japan ADV Reduces Stake in Caterpillar Inc. (NYSE:CAT)

Nissay Asset Management Corp Japan ADV lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 1.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 60,722 shares of the industrial products company's stock after selling 1,095 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Caterpillar were worth $22,155,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CAT. Nomura Holdings Inc. grew its holdings in shares of Caterpillar by 247.7% in the 4th quarter. Nomura Holdings Inc. now owns 57,350 shares of the industrial products company's stock valued at $20,804,000 after buying an additional 40,857 shares during the period. NorthRock Partners LLC lifted its position in Caterpillar by 89.2% during the 4th quarter. NorthRock Partners LLC now owns 10,062 shares of the industrial products company's stock worth $3,650,000 after buying an additional 4,744 shares in the last quarter. Northwest Quadrant Wealth Management LLC lifted its stake in Caterpillar by 2.8% in the 4th quarter. Northwest Quadrant Wealth Management LLC now owns 3,867 shares of the industrial products company's stock valued at $1,403,000 after purchasing an additional 104 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new stake in Caterpillar in the 4th quarter valued at about $2,404,000. Finally, Obsidian Personal Planning Solutions LLC lifted its stake in Caterpillar by 4.7% in the 4th quarter. Obsidian Personal Planning Solutions LLC now owns 1,620 shares of the industrial products company's stock valued at $602,000 after purchasing an additional 72 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Buying and Selling at Caterpillar

In other news, insider Jason Kaiser sold 2,425 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the sale, the insider now directly owns 6,275 shares of the company's stock, valued at $2,225,742.50. The trade was a 27.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David Maclennan bought 375 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director now owns 6,653 shares of the company's stock, valued at $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. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CAT. Bank of America cut their price objective on shares of Caterpillar from $452.00 to $414.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Evercore ISI raised their target price 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. JPMorgan Chase & Co. decreased their price objective on shares of Caterpillar from $490.00 to $380.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Truist Financial reissued 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. Finally, Oppenheimer upgraded shares of Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 target price on the stock in a research report on Thursday, May 1st. Six equities 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $375.50.

Caterpillar Trading Up 1.1%

CAT stock traded up $3.79 during midday trading on Friday, hitting $353.60. The stock had a trading volume of 2,558,499 shares, compared to its average volume of 2,639,240. The firm has a market cap of $166.56 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. 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 1-year low of $267.30 and a 1-year high of $418.50. The business has a fifty day moving average price of $317.42 and a two-hundred day moving average price of $354.09.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results 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 during the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Caterpillar's quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.60 EPS. On average, sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Monday, April 21st. Caterpillar's dividend payout ratio (DPR) is currently 27.49%.

Caterpillar Company 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.