44 Wealth Management LLC Cuts Stock Position in Caterpillar Inc. $CAT

44 Wealth Management LLC decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 77.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,366 shares of the industrial products company’s stock after selling 4,627 shares during the period. 44 Wealth Management LLC’s holdings in Caterpillar were worth $652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in CAT. WealthShield Partners LLC lifted its stake in shares of Caterpillar by 1.6% in the third quarter. WealthShield Partners LLC now owns 1,122 shares of the industrial products company’s stock worth $535,000 after buying an additional 18 shares in the last quarter. one8zero8 LLC grew its stake in Caterpillar by 3.2% during the 3rd quarter. one8zero8 LLC now owns 619 shares of the industrial products company’s stock valued at $295,000 after acquiring an additional 19 shares in the last quarter. Abacus Planning Group Inc. raised its holdings in Caterpillar by 0.6% in the 3rd quarter. Abacus Planning Group Inc. now owns 3,214 shares of the industrial products company’s stock valued at $1,534,000 after acquiring an additional 20 shares during the last quarter. Cyr Financial Inc. raised its holdings in Caterpillar by 2.5% in the 3rd quarter. Cyr Financial Inc. now owns 811 shares of the industrial products company’s stock valued at $387,000 after acquiring an additional 20 shares during the last quarter. Finally, Perennial Investment Advisors LLC lifted its stake in Caterpillar by 1.2% in the 3rd quarter. Perennial Investment Advisors LLC now owns 1,719 shares of the industrial products company’s stock worth $821,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE CAT opened at $693.89 on Friday. The company has a fifty day moving average of $693.92 and a two-hundred day moving average of $585.00. The company has a market capitalization of $322.86 billion, a PE ratio of 36.87, a P/E/G ratio of 1.64 and a beta of 1.54. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $789.81. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.44 and a quick ratio of 0.94.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 29th. The industrial products company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.49. Caterpillar had a net margin of 13.14% and a return on equity of 45.76%. The business had revenue of $19.13 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the previous year, the company posted $5.14 EPS. The company’s quarterly revenue was up 17.9% on a year-over-year basis. As a group, analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of recent research reports. Evercore boosted their price objective on Caterpillar from $476.00 to $630.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Wolfe Research lifted their price target on Caterpillar from $470.00 to $670.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. Oppenheimer boosted their price target on shares of Caterpillar from $729.00 to $817.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. UBS Group reissued a “neutral” rating and issued a $677.00 price objective on shares of Caterpillar in a report on Monday, February 2nd. Finally, Wells Fargo & Company raised their price objective on shares of Caterpillar from $756.00 to $870.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and an average price target of $730.50.

Insider Buying and Selling at Caterpillar

In other news, insider Lange Bob De sold 22,656 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $720.11, for a total value of $16,314,812.16. Following the completion of the transaction, the insider owned 79,953 shares in the company, valued at $57,574,954.83. This trade represents a 22.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Denise C. Johnson sold 39,138 shares of Caterpillar stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $681.08, for a total transaction of $26,656,109.04. Following the sale, the insider owned 43,350 shares of the company’s stock, valued at approximately $29,524,818. The trade was a 47.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 135,950 shares of company stock valued at $94,327,990. Insiders own 0.33% of the company’s stock.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.