Caterpillar Inc. (NYSE:CAT) Shares Sold by AGF Management Ltd.

AGF Management Ltd. cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 23.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,074 shares of the industrial products company’s stock after selling 921 shares during the quarter. AGF Management Ltd.’s holdings in Caterpillar were worth $1,115,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CAT. Halbert Hargrove Global Advisors LLC acquired a new stake in Caterpillar during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new stake in shares of Caterpillar in the 4th quarter valued at $31,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Caterpillar in the 4th quarter valued at $34,000. Albion Financial Group UT raised its holdings in shares of Caterpillar by 334.8% in the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 77 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Caterpillar in the 4th quarter valued at $36,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Wedbush upgraded shares of Caterpillar to an “outperform” rating in a report on Monday, February 3rd. Jefferies Financial Group raised their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. Morgan Stanley dropped their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Finally, DA Davidson increased their target price on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Caterpillar presently has an average rating of “Hold” and a consensus price target of $383.80.

Caterpillar Price Performance

CAT opened at $340.46 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50. The company has a 50 day moving average of $360.81 and a two-hundred day moving average of $372.35. The company has a market cap 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 (NYSE:CAT) last released its quarterly earnings data 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 net margin of 16.65% and a return on equity of 58.18%. On average, analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Transactions at Caterpillar

In other news, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the transaction, the insider now directly owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Caterpillar 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.