Tocqueville Asset Management L.P. Trims Stock Position in Caterpillar Inc. (NYSE:CAT)

Tocqueville Asset Management L.P. reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) 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.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, equities analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

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.

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.