Caterpillar Inc. (NYSE:CAT) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC lowered its stake in Caterpillar Inc. (NYSE:CAT) by 17.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,041 shares of the industrial products company’s stock after selling 420 shares during the quarter. Carret Asset Management LLC’s holdings in Caterpillar were worth $740,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth about $27,000. Noble Wealth Management PBC acquired a new stake in shares of Caterpillar during the 4th quarter worth about $31,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth about $34,000. Albion Financial Group UT raised its position in shares of Caterpillar by 334.8% during the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 77 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CAT. Truist Financial cut their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Citigroup raised their price target on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. dropped their price target on Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Wedbush upgraded Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Finally, StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $383.80.

Insider Buying and Selling

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the transaction, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 4th. The shares were purchased at an average cost of $365.57 per share, with a total value of $36,557.00. Following the completion of the acquisition, the director now owns 3,053 shares of the company’s stock, valued at $1,116,085.21. The trade was a 3.39 % increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by insiders.

Caterpillar Stock Up 2.1 %

CAT opened at $340.46 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. The business has a 50 day simple moving average of $360.81 and a 200-day simple moving average of $372.35. The stock has a market capitalization of $162.72 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50.

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

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.