Caterpillar Inc. (NYSE:CAT) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 35.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,732 shares of the industrial products company’s stock after selling 1,484 shares during the period. Edgestream Partners L.P.’s holdings in Caterpillar were worth $991,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. FSM Wealth Advisors LLC grew its holdings in Caterpillar by 3.8% in the 4th quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock valued at $262,000 after buying an additional 25 shares in the last quarter. Allen Capital Group LLC boosted its position in shares of Caterpillar by 0.6% during the 4th quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock valued at $1,541,000 after acquiring an additional 26 shares during the last quarter. Wagner Wealth Management LLC grew its holdings in shares of Caterpillar by 4.0% in the fourth quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 26 shares during the period. Channel Wealth LLC increased its position in Caterpillar by 1.9% during the fourth quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company’s stock worth $533,000 after purchasing an additional 27 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. raised its stake in Caterpillar by 0.6% during the fourth quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company’s stock worth $1,586,000 after purchasing an additional 27 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CAT. JPMorgan Chase & Co. cut their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Bank of America cut their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Jefferies Financial Group lifted their target price on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Truist Financial lowered their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Finally, Evercore ISI upped their target price on shares of Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Two research 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $383.80.

Caterpillar Stock Performance

NYSE:CAT opened at $339.66 on Wednesday. The company has a market cap of $162.33 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. 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 fifty day simple moving average of $362.29 and a two-hundred day simple moving average of $372.93.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share 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%. As a group, equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Activity at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the sale, the chief financial officer now directly owns 45,182 shares in the company, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were acquired 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 directly owns 3,053 shares in the company, valued at $1,116,085.21. The trade was a 3.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

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.