Summit Investment Advisors Inc. Has $4.32 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Summit Investment Advisors Inc. trimmed its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 9.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,916 shares of the industrial products company's stock after selling 1,249 shares during the period. Summit Investment Advisors Inc.'s holdings in Caterpillar were worth $4,323,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of Caterpillar by 0.7% during the third quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company's stock valued at $285,382,000 after purchasing an additional 5,371 shares during the period. SOA Wealth Advisors LLC. raised its position in Caterpillar by 47.2% in the third quarter. SOA Wealth Advisors LLC. now owns 156 shares of the industrial products company's stock worth $61,000 after acquiring an additional 50 shares in the last quarter. Tudor Financial Inc. acquired a new position in Caterpillar in the third quarter worth approximately $854,000. Anchor Investment Management LLC boosted its position in shares of Caterpillar by 2.9% in the 3rd quarter. Anchor Investment Management LLC now owns 13,317 shares of the industrial products company's stock valued at $5,208,000 after purchasing an additional 376 shares during the period. Finally, World Investment Advisors LLC grew its position in Caterpillar by 26.6% during the 3rd quarter. World Investment Advisors LLC now owns 4,012 shares of the industrial products company's stock worth $1,569,000 after purchasing an additional 843 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Up 1.3 %

Shares of NYSE:CAT traded up $3.68 during trading on Thursday, hitting $293.82. 2,716,340 shares of the company's stock traded hands, compared to its average volume of 2,636,779. 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 52 week low of $267.30 and a 52 week high of $418.50. The company has a 50-day moving average price of $329.84 and a 200-day moving average price of $365.33. The company has a market cap of $140.42 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21.

Caterpillar (NYSE:CAT - Get Free Report) last announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping analysts' consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. As a group, research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st will be paid a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.92%. Caterpillar's dividend payout ratio is 25.56%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CAT. Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and reduced their price objective for the company from $300.00 to $283.00 in a research report on Wednesday. Bank of America dropped their target price on shares of Caterpillar from $452.00 to $414.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. lowered their price objective on Caterpillar from $490.00 to $380.00 and set an "overweight" rating on the stock in a research report on Monday. StockNews.com downgraded Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, Truist Financial dropped their price objective on shares of Caterpillar from $438.00 to $389.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $361.64.

Insider Activity at Caterpillar

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

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.