Caterpillar Inc. (NYSE:CAT) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,614 shares of the industrial products company’s stock after selling 709 shares during the quarter. Corebridge Financial Inc.’s holdings in Caterpillar were worth $48,107,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CAT. Raymond James Financial Inc. acquired a new position in shares of Caterpillar during the fourth quarter worth about $353,231,000. Proficio Capital Partners LLC raised its holdings in shares of Caterpillar by 50,072.7% during the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock valued at $291,938,000 after buying an additional 803,166 shares during the period. Amundi lifted its position in Caterpillar by 17.3% during the 4th quarter. Amundi now owns 2,166,087 shares of the industrial products company’s stock worth $782,109,000 after acquiring an additional 318,891 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Caterpillar by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock worth $16,980,629,000 after acquiring an additional 284,366 shares during the period. Finally, Zurich Insurance Group Ltd FI raised its stake in shares of Caterpillar by 4,018.6% during the third quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock valued at $99,874,000 after purchasing an additional 249,155 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In related news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated Tuesday, February 4th. The stock was bought at an average cost of $365.57 per share, with a total value of $36,557.00. Following the purchase, the director now owns 3,053 shares in the company, valued at approximately $1,116,085.21. The trade was a 3.39 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Caterpillar Price Performance

CAT opened at $335.49 on Monday. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The company’s 50-day moving average price is $358.61 and its 200 day moving average price is $372.30. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two week high of $418.50. The firm has a market cap of $160.34 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15.

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

Wall Street Analysts Forecast Growth

CAT has been the subject of several analyst reports. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Citigroup upped their price objective 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. Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. DA Davidson raised their price objective on Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley dropped their price objective on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $383.80.

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.