PAX Financial Group LLC Sells 400 Shares of Caterpillar Inc. (NYSE:CAT)

PAX Financial Group LLC lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 40.1% during the fourth quarter, Holdings Channel reports. The firm owned 598 shares of the industrial products company’s stock after selling 400 shares during the quarter. PAX Financial Group LLC’s holdings in Caterpillar were worth $217,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Caterpillar by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock valued at $16,980,629,000 after buying an additional 284,366 shares during the period. Geode Capital Management LLC increased its position in Caterpillar by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company’s stock valued at $3,790,841,000 after purchasing an additional 236,315 shares during the period. Fisher Asset Management LLC raised its holdings in Caterpillar by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company’s stock worth $3,294,505,000 after purchasing an additional 129,143 shares in the last quarter. Norges Bank purchased a new stake in shares of Caterpillar in the 4th quarter worth about $2,184,364,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Caterpillar by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,289,101 shares of the industrial products company’s stock valued at $1,193,154,000 after purchasing an additional 61,723 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the transaction, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average cost of $365.57 per share, with a total value of $36,557.00. Following the transaction, the director now directly owns 3,053 shares in the company, 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 currently owned by corporate insiders.

Caterpillar Stock Down 5.9 %

CAT stock opened at $287.57 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a 1-year low of $281.50 and a 1-year high of $418.50. The stock has a market capitalization of $137.44 billion, a P/E ratio of 13.03, a P/E/G ratio of 1.87 and a beta of 1.15. The business has a fifty day moving average price of $346.83 and a 200-day moving average price of $371.19.

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

Analysts Set New Price Targets

Several analysts have commented on CAT shares. Bank of America lowered their price objective 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. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. DA Davidson upped their price target on Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Citigroup boosted 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, Truist Financial decreased their price target on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $383.80.

About Caterpillar

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.