Steel Grove Capital Advisors LLC Sells 45 Shares of Caterpillar Inc. (NYSE:CAT)

Steel Grove Capital Advisors LLC decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,209 shares of the industrial products company’s stock after selling 45 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Caterpillar were worth $358,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CAT. Atlas Capital Advisors LLC raised its position in shares of 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 purchasing an additional 79 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Caterpillar by 730.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after buying an additional 95 shares during the last quarter. First Capital Advisors Group LLC. acquired a new stake in shares of Caterpillar during the second quarter worth $30,000. CGC Financial Services LLC purchased a new stake in shares of Caterpillar during the second quarter valued at $31,000. Finally, SkyView Investment Advisors LLC purchased a new position in Caterpillar in the 1st quarter worth $35,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the transaction, the chief financial officer now directly owns 67,317 shares in the company, valued at approximately $20,197,792.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the transaction, the chief financial officer now directly owns 67,317 shares of the company’s stock, valued at $20,197,792.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony D. Fassino sold 4,575 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the sale, the insider now owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The disclosure for this sale can be found here. Insiders sold 45,769 shares of company stock worth $14,509,306 over the last three months. Insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

CAT traded up $1.63 during midday trading on Thursday, hitting $366.28. 1,072,871 shares of the company traded hands, compared to its average volume of 2,452,879. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.25. Caterpillar Inc. has a 52-week low of $204.04 and a 52-week high of $366.69. The company has a market capitalization of $182.92 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 1.70 and a beta of 1.16. The business has a 50 day simple moving average of $325.46 and a two-hundred day simple moving average of $287.19.

Caterpillar (NYSE:CAT) last released its earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, beating the consensus estimate of $4.76 by $0.47. The business had revenue of $17.07 billion for the quarter, compared to the consensus estimate of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.86 earnings per share. On average, equities analysts forecast that Caterpillar Inc. will post 21.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CAT shares. Wells Fargo & Company boosted their price target on Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Evercore ISI lowered shares of Caterpillar from an “outperform” rating to an “in-line” rating and raised their price target for the stock from $321.00 to $338.00 in a research report on Tuesday, February 20th. Truist Financial began coverage on shares of Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price objective on the stock. StockNews.com cut shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. increased their price target on Caterpillar from $345.00 to $385.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. 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. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and a consensus target price of $297.89.

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.