Delta Asset Management LLC TN Sells 912 Shares of Caterpillar Inc. (NYSE:CAT)

Delta Asset Management LLC TN lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,734 shares of the industrial products company’s stock after selling 912 shares during the quarter. Caterpillar comprises approximately 1.9% of Delta Asset Management LLC TN’s investment portfolio, making the stock its 16th biggest position. Delta Asset Management LLC TN’s holdings in Caterpillar were worth $21,669,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAT. Flagship Wealth Advisors LLC acquired a new stake in Caterpillar during the fourth quarter worth about $26,000. Halbert Hargrove Global Advisors LLC bought a new position in Caterpillar in the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC acquired a new position in Caterpillar during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new stake in shares of Caterpillar in the 4th quarter valued at $31,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Caterpillar in the 4th quarter valued at $34,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Down 0.5 %

Caterpillar stock opened at $340.91 on Thursday. The firm has a 50 day moving average price of $356.95 and a two-hundred day moving average price of $372.24. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50. The firm has a market cap of $162.93 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.87 and a beta of 1.15.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating 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%. Equities analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the sale, the insider now owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 45,182 shares in the company, valued at $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of recent analyst reports. Bank of America decreased their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Jefferies Financial Group upped their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Citigroup raised their target price on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lowered 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. Finally, StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $383.80.

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.