RiverFront Investment Group LLC Sells 312 Shares of Caterpillar Inc. (NYSE:CAT)

RiverFront Investment Group LLC decreased its holdings in Caterpillar Inc. (NYSE:CAT) by 9.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,929 shares of the industrial products company’s stock after selling 312 shares during the quarter. RiverFront Investment Group LLC’s holdings in Caterpillar were worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Flagship Wealth Advisors LLC bought a new position in Caterpillar in the 4th quarter worth $26,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Caterpillar during the 4th quarter valued at approximately $27,000. Cyrus J. Lawrence LLC purchased a new stake in Caterpillar in the 4th quarter worth approximately $27,000. Noble Wealth Management PBC purchased a new stake in shares of Caterpillar in the fourth quarter worth $31,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Caterpillar during the 4th quarter valued at $34,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

Caterpillar stock opened at $329.65 on Friday. The firm has a 50-day moving average of $354.99 and a two-hundred day moving average of $371.98. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. The stock has a market cap of $157.55 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) 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%. On average, research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson purchased 100 shares of the stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the acquisition, the director now owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was 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 of the company’s stock, valued at approximately $17,173,226.38. This trade represents 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

A number of equities research analysts have commented on CAT shares. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and raised their price target for the company from $355.00 to $385.00 in a report on Monday, February 3rd. Citigroup increased their price target on Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Wedbush raised shares of Caterpillar to an “outperform” rating in a report on Monday, February 3rd. Jefferies Financial Group upped their target price 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. Finally, Bank of America lowered their price objective on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $383.80.

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.