Fox Hill Wealth Management Cuts Stake in Caterpillar Inc. (NYSE:CAT)

Fox Hill Wealth Management lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 82.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,253 shares of the industrial products company’s stock after selling 5,820 shares during the period. Fox Hill Wealth Management’s holdings in Caterpillar were worth $455,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Caterpillar by 198.1% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 4,803 shares of the industrial products company’s stock valued at $1,747,000 after purchasing an additional 3,192 shares during the last quarter. Brooklyn FI LLC bought a new stake in Caterpillar during the 4th quarter valued at $755,000. Intech Investment Management LLC raised its position in Caterpillar by 31.6% during the 4th quarter. Intech Investment Management LLC now owns 231,142 shares of the industrial products company’s stock valued at $83,849,000 after purchasing an additional 55,564 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in shares of Caterpillar in the 4th quarter valued at $19,555,000. Finally, Evoke Wealth LLC increased its holdings in shares of Caterpillar by 31.2% in the 4th quarter. Evoke Wealth LLC now owns 3,243 shares of the industrial products company’s stock valued at $1,176,000 after acquiring an additional 771 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CAT. JPMorgan Chase & Co. reduced their target price on Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Wedbush upgraded Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and upped their target price for the stock from $355.00 to $385.00 in a research note on Monday, February 3rd. Evercore ISI upped their target price on Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Finally, Truist Financial lowered their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. 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 MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $383.80.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $336.67 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two week high of $418.50. The firm has a 50-day simple moving average of $359.86 and a 200 day simple moving average of $372.46. The company has a market cap of $160.90 billion, a PE ratio of 15.25, a P/E/G ratio of 1.87 and a beta of 1.15.

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

Insider Activity at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was acquired at an average cost of $365.57 per share, with a total value of $36,557.00. Following the acquisition, the director now owns 3,053 shares in the company, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Kaiser sold 2,425 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the sale, the insider now directly owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

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.