First Command Bank cut its stake in shares of Caterpillar Inc. (NYSE:CAT – Get Rating) by 13.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,793 shares of the industrial products company’s stock after selling 425 shares during the period. First Command Bank’s holdings in Caterpillar were worth $669,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. BCK Partners Inc. purchased a new position in Caterpillar in the first quarter valued at about $2,580,000. Sei Investments Co. raised its position in shares of Caterpillar by 17.3% in the 1st quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company’s stock valued at $14,634,000 after purchasing an additional 9,695 shares in the last quarter. Dakota Wealth Management purchased a new position in shares of Caterpillar during the 1st quarter valued at approximately $405,000. Mather Group LLC. grew its position in shares of Caterpillar by 6.8% during the first quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company’s stock worth $577,000 after buying an additional 165 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Caterpillar by 4.4% in the first quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company’s stock valued at $11,075,000 after acquiring an additional 2,076 shares in the last quarter. Institutional investors and hedge funds own 68.02% of the company’s stock.
Insider Buying and Selling
In other Caterpillar news, insider Cheryl H. Johnson sold 23,883 shares of the firm’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $250.44, for a total transaction of $5,981,258.52. Following the transaction, the insider now owns 13,857 shares of the company’s stock, valued at approximately $3,470,347.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Daniel M. Dickinson sold 6,070 shares of the company’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $251.22, for a total value of $1,524,905.40. Following the completion of the sale, the director now owns 5,038 shares in the company, valued at $1,265,646.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Cheryl H. Johnson sold 23,883 shares of Caterpillar stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $250.44, for a total value of $5,981,258.52. Following the transaction, the insider now directly owns 13,857 shares in the company, valued at $3,470,347.08. The disclosure for this sale can be found here. Insiders sold 67,247 shares of company stock valued at $16,819,690 over the last 90 days. 0.27% of the stock is currently owned by company insiders.
Caterpillar Price Performance
Caterpillar (NYSE:CAT – Get Rating) last posted its earnings results on Tuesday, January 31st. The industrial products company reported $3.86 EPS for the quarter, missing the consensus estimate of $3.95 by ($0.09). Caterpillar had a net margin of 11.28% and a return on equity of 45.61%. The business had revenue of $16.60 billion during the quarter, compared to analyst estimates of $15.84 billion. During the same quarter in the prior year, the business earned $2.69 earnings per share. The firm’s revenue was up 20.3% compared to the same quarter last year. Analysts anticipate that Caterpillar Inc. will post 15.67 earnings per share for the current year.
Wall Street Analysts Forecast Growth
CAT has been the subject of several research analyst reports. StockNews.com initiated coverage on shares of Caterpillar in a research report on Thursday, March 16th. They issued a “buy” rating for the company. BMO Capital Markets upped their price objective on Caterpillar from $210.00 to $230.00 in a research note on Tuesday, February 7th. Bank of America upgraded Caterpillar from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $217.00 to $295.00 in a research report on Friday, January 13th. Cowen upped their price target on Caterpillar from $240.00 to $264.00 and gave the company an “outperform” rating in a research report on Friday, December 9th. Finally, Citigroup boosted their target price on shares of Caterpillar to $250.00 in a research note on Wednesday, December 14th. Three analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $238.35.
About Caterpillar
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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