StrategIQ Financial Group LLC Cuts Holdings in Caterpillar Inc. (NYSE:CAT)

StrategIQ Financial Group LLC cut its stake in Caterpillar Inc. (NYSE:CATFree Report) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,745 shares of the industrial products company’s stock after selling 275 shares during the quarter. StrategIQ Financial Group LLC’s holdings in Caterpillar were worth $812,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atlas Capital Advisors LLC increased its position in Caterpillar by 272.4% in the 1st quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 79 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Caterpillar by 730.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 95 shares in the last quarter. Gilfoyle & Co LLC acquired a new position in shares of Caterpillar during the 4th quarter valued at $30,000. First Capital Advisors Group LLC. bought a new stake in shares of Caterpillar in the 2nd quarter worth $30,000. Finally, CGC Financial Services LLC acquired a new stake in Caterpillar in the 2nd quarter valued at about $31,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the transaction, the chief financial officer now directly owns 57,317 shares in the company, valued at $17,774,001.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director David Maclennan acquired 350 shares of Caterpillar stock in a transaction on Friday, February 23rd. The stock was acquired at an average cost of $323.37 per share, with a total value of $113,179.50. Following the completion of the acquisition, the director now owns 5,238 shares in the company, valued at $1,693,812.06. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $310.10, for a total value of $3,101,000.00. Following the completion of the sale, the chief financial officer now owns 57,317 shares in the company, valued at $17,774,001.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,769 shares of company stock worth $14,509,306. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the subject of a number of analyst reports. Robert W. Baird upped their price objective on shares of Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a research note on Tuesday, February 6th. The Goldman Sachs Group boosted their price target on Caterpillar from $274.00 to $357.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Truist Financial initiated coverage on Caterpillar in a report on Thursday, March 14th. They set a “buy” rating and a $390.00 target price on the stock. Sanford C. Bernstein increased their price objective on shares of Caterpillar from $216.00 to $245.00 and gave the company a “market perform” rating in a report on Thursday, December 21st. Finally, Morgan Stanley initiated coverage on Caterpillar in a research report on Monday, January 8th. They set an “equal weight” rating and a $270.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $297.89.

Check Out Our Latest Report on CAT

Caterpillar Trading Up 1.6 %

Shares of Caterpillar stock traded up $5.81 on Wednesday, reaching $370.64. 638,472 shares of the company’s stock were exchanged, compared to its average volume of 2,422,654. The company has a market capitalization of $185.10 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 1.74 and a beta of 1.17. Caterpillar Inc. has a 52 week low of $204.04 and a 52 week high of $372.69. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 1.35. The firm’s 50-day moving average is $331.80 and its two-hundred day moving average is $289.64.

Caterpillar (NYSE:CATGet Free Report) last announced its quarterly earnings results 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 analyst estimates of $17.06 billion. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. Caterpillar’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.86 EPS. Sell-side analysts predict that Caterpillar Inc. will post 21.25 EPS for the current fiscal year.

Caterpillar Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CATFree Report).

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.