Caterpillar Inc. (NYSE:CAT) Shares Sold by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 6.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,770 shares of the industrial products company’s stock after selling 130 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Caterpillar were worth $642,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Caterpillar in the 4th quarter worth approximately $2,184,364,000. Raymond James Financial Inc. purchased a new position in Caterpillar during the fourth quarter worth approximately $353,231,000. Proficio Capital Partners LLC boosted its stake in Caterpillar by 50,072.7% during the fourth quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock worth $291,938,000 after buying an additional 803,166 shares during the last quarter. Amundi grew its holdings in Caterpillar by 17.3% in the 4th quarter. Amundi now owns 2,166,087 shares of the industrial products company’s stock valued at $782,109,000 after buying an additional 318,891 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of 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 last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on CAT shares. Citigroup boosted their price target 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. Truist Financial decreased their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Jefferies Financial Group lifted their price target on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. DA Davidson upped their price objective on Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and raised their target price for the stock from $355.00 to $385.00 in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $383.80.

Insider Activity

In related news, 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 value of $3,800,900.00. Following the sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was purchased at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the transaction, 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 disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

Caterpillar Trading Down 2.8 %

NYSE CAT opened at $329.65 on Friday. Caterpillar Inc. has a one year low of $307.05 and a one year high of $418.50. The firm has a 50 day simple moving average of $354.99 and a 200-day simple moving average of $371.98. The firm has a market cap of $157.55 billion, a price-to-earnings ratio of 14.94, a PEG 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 (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

About Caterpillar

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.