Carret Asset Management LLC Cuts Stock Position in Caterpillar Inc. (NYSE:CAT)

Carret Asset Management LLC cut its holdings in Caterpillar Inc. (NYSE:CAT) by 17.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 institutional investors and hedge funds have also made changes to their positions in CAT. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new stake in shares of Caterpillar in the fourth quarter worth approximately $31,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Caterpillar in the fourth quarter worth approximately $34,000. Albion Financial Group UT boosted its stake in shares of Caterpillar by 334.8% in the fourth 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 during the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Caterpillar in the fourth quarter worth approximately $36,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

NYSE CAT opened at $340.46 on Friday. The stock has a market cap of $162.72 billion, a PE ratio of 15.43, a P/E/G ratio of 1.87 and a beta of 1.15. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a twelve month low of $307.05 and a twelve month high of $418.50. The stock has a fifty day simple moving average of $360.81 and a 200-day simple moving average of $372.35.

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, topping 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%. Equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CAT shares. Evercore ISI lifted their price target on Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. DA Davidson lifted 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. JPMorgan Chase & Co. lowered their price objective on Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Jefferies Financial Group boosted their price objective on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Wedbush raised Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $383.80.

Insider Buying and Selling

In other news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were purchased at an average price of $365.57 per share, with a total value of $36,557.00. Following the purchase, the director now 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the sale, the chief financial officer now directly owns 45,182 shares in the company, valued at $17,173,226.38. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

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.