Tocqueville Asset Management L.P. reduced its stake in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 3.7% during the fourth quarter, Holdings Channel reports. The firm owned 133,118 shares of the industrial products company’s stock after selling 5,064 shares during the quarter. Caterpillar makes up approximately 0.8% of Tocqueville Asset Management L.P.’s portfolio, making the stock its 29th biggest position. Tocqueville Asset Management L.P.’s holdings in Caterpillar were worth $48,290,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its stake in shares of Caterpillar by 0.7% in the 3rd quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company’s stock worth $285,382,000 after acquiring an additional 5,371 shares in the last quarter. KPP Advisory Services LLC bought a new stake in Caterpillar during the 3rd quarter valued at about $231,000. Seizert Capital Partners LLC increased its stake in Caterpillar by 31.1% during the 3rd quarter. Seizert Capital Partners LLC now owns 12,084 shares of the industrial products company’s stock valued at $4,726,000 after purchasing an additional 2,870 shares in the last quarter. Schear Investment Advisers LLC boosted its holdings in shares of Caterpillar by 10.8% during the 3rd quarter. Schear Investment Advisers LLC now owns 6,628 shares of the industrial products company’s stock valued at $2,592,000 after acquiring an additional 647 shares during the last quarter. Finally, Atlanta Consulting Group Advisors LLC boosted its holdings in shares of Caterpillar by 32.3% during the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 3,053 shares of the industrial products company’s stock valued at $1,194,000 after acquiring an additional 745 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.
Caterpillar Stock Up 2.1 %
CAT opened at $340.46 on Monday. The stock’s fifty day moving average is $360.81 and its 200-day moving average is $372.66. The company has a market capitalization 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 debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. Caterpillar Inc. has a one year low of $307.05 and a one year high of $418.50.
Insider Activity
In related news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was bought at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the acquisition, the director now directly owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. The trade was a 3.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s 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 transaction, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. The trade was a 18.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.
Analyst Upgrades and Downgrades
CAT has been the topic of several recent analyst reports. DA Davidson lifted their price objective 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. Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. Truist Financial lowered their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Citigroup boosted their target price on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $355.00 to $385.00 in a report on Monday, February 3rd. 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 MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $383.80.
Read Our Latest Research Report on CAT
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.
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