Grassi Investment Management Sells 200 Shares of Caterpillar Inc. (NYSE:CAT)

Grassi Investment Management trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,954 shares of the industrial products company’s stock after selling 200 shares during the quarter. Caterpillar comprises about 2.1% of Grassi Investment Management’s holdings, making the stock its 10th biggest position. Grassi Investment Management’s holdings in Caterpillar were worth $24,288,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAT. International Assets Investment Management LLC lifted its stake in shares of Caterpillar by 39,534.0% in the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after buying an additional 2,131,276 shares in the last quarter. Altshuler Shaham Ltd lifted its position in Caterpillar by 3,319.7% in the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after acquiring an additional 266,969 shares in the last quarter. Zurich Insurance Group Ltd FI boosted its stake in Caterpillar by 4,018.6% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock valued at $99,874,000 after purchasing an additional 249,155 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Caterpillar by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after purchasing an additional 205,012 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Caterpillar by 34.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock worth $305,908,000 after purchasing an additional 200,210 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Gerald Johnson bought 100 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were acquired at an average cost of $398.57 per share, with a total value of $39,857.00. Following the completion of the purchase, the director now directly owns 2,953 shares of the company’s stock, valued at $1,176,977.21. This trade represents a 3.51 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Cheryl H. Johnson sold 2,664 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the completion of the transaction, the insider now directly owns 12,951 shares of the company’s stock, valued at approximately $4,906,356.84. This represents a 17.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,868 shares of company stock worth $9,679,489. 0.29% of the stock is owned by company insiders.

Caterpillar Stock Performance

NYSE:CAT traded up $11.22 on Monday, reaching $362.22. 1,520,301 shares of the company’s stock were exchanged, compared to its average volume of 1,777,629. The stock has a fifty day simple moving average of $382.16 and a 200-day simple moving average of $365.69. Caterpillar Inc. has a 52 week low of $276.94 and a 52 week high of $418.50. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The firm has a market cap of $174.88 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 1.92 and a beta of 1.13.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the previous year, the firm earned $5.52 EPS. The company’s revenue was down 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s dividend payout ratio is presently 26.15%.

Analyst Ratings Changes

Several brokerages recently issued reports on CAT. Evercore ISI upgraded Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target for the company in a report on Monday. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $349.00 to $332.00 in a report on Monday, October 14th. Truist Financial boosted their price target on shares of Caterpillar from $454.00 to $471.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Citigroup boosted their target price on Caterpillar from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $384.33.

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.