Caterpillar Inc. (NYSE:CAT) Shares Sold by Cannon Advisors Inc.

Cannon Advisors Inc. lessened its stake in Caterpillar Inc. (NYSE:CAT) by 2.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 9,215 shares of the industrial products company’s stock after selling 261 shares during the period. Caterpillar comprises approximately 2.8% of Cannon Advisors Inc.’s portfolio, making the stock its 13th largest position. Cannon Advisors Inc.’s holdings in Caterpillar were worth $3,343,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Caterpillar during the 4th quarter worth about $2,184,364,000. Raymond James Financial Inc. acquired a new stake in shares of Caterpillar during the fourth quarter worth about $353,231,000. Proficio Capital Partners LLC boosted its stake in shares of Caterpillar by 50,072.7% in the fourth quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock valued at $291,938,000 after purchasing an additional 803,166 shares during the period. Amundi grew its holdings in shares of Caterpillar by 17.3% in the fourth quarter. Amundi now owns 2,166,087 shares of the industrial products company’s stock valued at $782,109,000 after purchasing an additional 318,891 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Caterpillar by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock worth $16,980,629,000 after buying an additional 284,366 shares in the last quarter. Hedge funds and other institutional investors 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 company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value 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 approximately $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were bought at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the acquisition, the director now owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. The trade was a 3.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $330.14 on Tuesday. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50. The firm has a market capitalization of $157.78 billion, a P/E ratio of 14.96, a P/E/G ratio of 1.87 and a beta of 1.15. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The company’s fifty day moving average price is $353.87 and its 200 day moving average price is $372.44.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on CAT. Evercore ISI upped their price objective on Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Truist Financial cut their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Raymond James upgraded Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. Citigroup raised their target price on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, Bank of America lowered their price target on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $383.80.

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.