First Citizens Bank & Trust Co. Lowers Holdings in Caterpillar Inc. (NYSE:CAT)

First Citizens Bank & Trust Co. decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 18.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,277 shares of the industrial products company’s stock after selling 739 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Caterpillar were worth $517,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. White Lighthouse Investment Management Inc. purchased a new stake in Caterpillar during the fourth quarter worth approximately $741,000. DnB Asset Management AS lifted its stake in Caterpillar by 4.0% during the fourth quarter. DnB Asset Management AS now owns 77,797 shares of the industrial products company’s stock worth $12,259,000 after purchasing an additional 3,000 shares during the last quarter. Atalanta Sosnoff Capital LLC lifted its stake in Caterpillar by 2.9% during the fourth quarter. Atalanta Sosnoff Capital LLC now owns 315,680 shares of the industrial products company’s stock worth $49,744,000 after purchasing an additional 8,911 shares during the last quarter. Chickasaw Capital Management LLC purchased a new stake in Caterpillar during the fourth quarter worth approximately $236,000. Finally, Renaissance Investment Group LLC purchased a new stake in Caterpillar during the fourth quarter worth approximately $3,558,000. Hedge funds and other institutional investors own 68.68% of the company’s stock.

In related news, CFO Bradley M. Halverson sold 17,210 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $137.33, for a total transaction of $2,363,449.30. Following the transaction, the chief financial officer now owns 7,814 shares of the company’s stock, valued at $1,073,096.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jananne A. Copeland sold 3,247 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $136.95, for a total value of $444,676.65. Following the transaction, the insider now directly owns 8,908 shares in the company, valued at approximately $1,219,950.60. The disclosure for this sale can be found here. Insiders have sold 143,331 shares of company stock worth $22,107,578 in the last ninety days. 0.14% of the stock is currently owned by corporate insiders.

A number of brokerages have weighed in on CAT. Vetr upgraded Caterpillar from a “strong sell” rating to a “sell” rating and set a $151.72 price objective for the company in a research note on Monday, January 15th. BMO Capital Markets boosted their price objective on Caterpillar from $150.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, October 26th. Citigroup boosted their price objective on Caterpillar from $145.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, December 21st. JPMorgan Chase & Co. upgraded Caterpillar from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $161.96 to $200.00 in a research note on Monday, January 8th. Finally, Goldman Sachs Group boosted their price objective on Caterpillar from $143.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, October 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the stock. Caterpillar currently has an average rating of “Buy” and an average target price of $167.80.

Caterpillar Inc. (NYSE:CAT) traded down $4.75 during trading hours on Friday, hitting $157.49. The stock had a trading volume of 7,600,000 shares, compared to its average volume of 5,580,000. The firm has a market capitalization of $93,700.00, a price-to-earnings ratio of 124.99, a P/E/G ratio of 1.68 and a beta of 1.22. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.97 and a current ratio of 1.35. Caterpillar Inc. has a 1-year low of $90.34 and a 1-year high of $173.24.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 25th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.39. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.01 billion. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. The company’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 earnings per share. analysts expect that Caterpillar Inc. will post 9.05 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, January 22nd will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, January 19th. Caterpillar’s dividend payout ratio is presently 247.62%.

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About Caterpillar

Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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