Harvest Fund Management Co. Ltd Has $324,000 Stock Position in Caterpillar Inc. (NYSE:CAT)

Harvest Fund Management Co. Ltd reduced its holdings in Caterpillar Inc. (NYSE:CAT) by 72.4% in the 4th quarter, HoldingsChannel reports. The fund owned 1,094 shares of the industrial products company’s stock after selling 2,865 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Caterpillar were worth $324,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CAT. Lodestar Private Asset Management LLC lifted its position in Caterpillar by 4.4% during the fourth quarter. Lodestar Private Asset Management LLC now owns 830 shares of the industrial products company’s stock valued at $245,000 after purchasing an additional 35 shares during the last quarter. Desjardins Global Asset Management Inc. raised its stake in shares of Caterpillar by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 2,616 shares of the industrial products company’s stock worth $774,000 after acquiring an additional 35 shares in the last quarter. Cornerstone Wealth Management LLC raised its stake in shares of Caterpillar by 1.0% during the fourth quarter. Cornerstone Wealth Management LLC now owns 3,507 shares of the industrial products company’s stock worth $1,037,000 after acquiring an additional 36 shares in the last quarter. ACT Wealth Management LLC raised its stake in shares of Caterpillar by 4.3% during the fourth quarter. ACT Wealth Management LLC now owns 877 shares of the industrial products company’s stock worth $259,000 after acquiring an additional 36 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its stake in shares of Caterpillar by 2.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,893 shares of the industrial products company’s stock worth $560,000 after acquiring an additional 37 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CAT has been the topic of a number of recent research reports. TD Cowen raised their price objective on Caterpillar from $300.00 to $338.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. The Goldman Sachs Group raised their price objective on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Citigroup raised their price objective on Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Oppenheimer reissued a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. Finally, Morgan Stanley started coverage on Caterpillar in a report on Monday, January 8th. They issued an “equal weight” rating and a $270.00 price target for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $307.56.

Caterpillar Stock Performance

CAT stock traded up $0.27 during trading on Wednesday, hitting $363.52. 3,015,604 shares of the company traded hands, compared to its average volume of 2,435,942. The stock’s 50-day simple moving average is $348.44 and its 200 day simple moving average is $299.59. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.35 and a quick ratio of 0.87. The company has a market cap of $181.54 billion, a PE ratio of 18.12, a P/E/G ratio of 1.59 and a beta of 1.17. Caterpillar Inc. has a 1 year low of $204.04 and a 1 year high of $382.01.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, beating analysts’ consensus estimates of $4.76 by $0.47. The business had revenue of $17.07 billion during the quarter, compared to analysts’ expectations of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.86 earnings per share. On average, equities analysts expect that Caterpillar Inc. will post 21.32 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Friday, April 19th. Caterpillar’s dividend payout ratio (DPR) is presently 25.82%.

Insider Buying and Selling

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the completion of the sale, the chief financial officer now directly owns 57,317 shares in the company, valued at $17,774,001.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Caterpillar news, insider Lange Bob De sold 21,194 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the transaction, the insider now owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total value of $3,101,000.00. Following the transaction, the chief financial officer now directly owns 57,317 shares in the company, valued at approximately $17,774,001.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,769 shares of company stock worth $14,509,306. 0.33% of the stock is owned by corporate 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.