Belpointe Asset Management LLC lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 29.8% during the fourth quarter, HoldingsChannel reports. The fund owned 4,814 shares of the industrial products company’s stock after selling 2,048 shares during the quarter. Belpointe Asset Management LLC’s holdings in Caterpillar were worth $711,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. Resources Management Corp CT ADV bought a new stake in Caterpillar in the 3rd quarter valued at $1,513,000. Stonebridge Capital Management Inc. increased its holdings in Caterpillar by 3.6% in the 4th quarter. Stonebridge Capital Management Inc. now owns 20,687 shares of the industrial products company’s stock valued at $3,055,000 after buying an additional 725 shares during the period. Thomasville National Bank increased its holdings in Caterpillar by 11.7% in the 4th quarter. Thomasville National Bank now owns 3,580 shares of the industrial products company’s stock valued at $529,000 after buying an additional 375 shares during the period. Stillwater Investment Management LLC increased its holdings in Caterpillar by 10.3% in the 4th quarter. Stillwater Investment Management LLC now owns 17,539 shares of the industrial products company’s stock valued at $2,590,000 after buying an additional 1,631 shares during the period. Finally, Adams Diversified Equity Fund Inc. bought a new stake in Caterpillar in the 4th quarter valued at $13,897,000. 67.12% of the stock is currently owned by institutional investors and hedge funds.
CAT has been the topic of several analyst reports. Robert W. Baird lowered their price target on shares of Caterpillar from $185.00 to $157.00 and set an “outperform” rating on the stock in a report on Friday, March 13th. Bank of America lowered their price target on shares of Caterpillar from $150.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $155.00 to $178.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Royal Bank of Canada lowered their price target on shares of Caterpillar from $152.00 to $145.00 and set a “positive” rating on the stock in a report on Monday, February 3rd. Finally, Wells Fargo & Co lowered their price target on shares of Caterpillar from $150.00 to $120.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 17th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $134.89.
Shares of NYSE:CAT opened at $104.67 on Thursday. Caterpillar Inc. has a 52 week low of $87.50 and a 52 week high of $150.55. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.05 and a current ratio of 1.47. The company’s fifty day moving average is $121.24 and its 200-day moving average is $134.35. The company has a market capitalization of $55.75 billion, a PE ratio of 9.77, a P/E/G ratio of 1.20 and a beta of 1.44.
Caterpillar (NYSE:CAT) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.37 by $0.26. Caterpillar had a net margin of 11.32% and a return on equity of 41.85%. The company had revenue of $13.14 billion for the quarter, compared to the consensus estimate of $13.42 billion. During the same quarter in the previous year, the company earned $2.55 EPS. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, analysts forecast that Caterpillar Inc. will post 8.75 EPS for the current year.
In other news, CAO Gary Michael Marvel sold 589 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $137.83, for a total value of $81,181.87. The sale was disclosed in a filing with the SEC, which is available at this link. 0.37% of the stock is currently owned by insiders.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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