Clear Harbor Asset Management LLC Lowers Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Clear Harbor Asset Management LLC trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,397 shares of the industrial products company’s stock after selling 953 shares during the quarter. Caterpillar makes up approximately 1.3% of Clear Harbor Asset Management LLC’s investment portfolio, making the stock its 13th largest position. Clear Harbor Asset Management LLC’s holdings in Caterpillar were worth $14,605,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CAT. Waterway Wealth Management LLC acquired a new position in shares of Caterpillar during the fourth quarter valued at approximately $352,000. Farmers Trust Co. raised its stake in Caterpillar by 2.7% in the 4th quarter. Farmers Trust Co. now owns 4,490 shares of the industrial products company’s stock valued at $1,328,000 after purchasing an additional 120 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in Caterpillar by 16.7% in the 3rd quarter. Panagora Asset Management Inc. now owns 367,655 shares of the industrial products company’s stock valued at $100,370,000 after purchasing an additional 52,576 shares in the last quarter. Rise Advisors LLC boosted its stake in Caterpillar by 7.8% during the 4th quarter. Rise Advisors LLC now owns 1,074 shares of the industrial products company’s stock worth $318,000 after purchasing an additional 78 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its position in shares of Caterpillar by 176.9% in the third quarter. Eagle Asset Management Inc. now owns 27,357 shares of the industrial products company’s stock valued at $7,468,000 after buying an additional 17,478 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 0.5 %

Shares of Caterpillar stock traded up $1.73 during trading on Thursday, hitting $366.38. 2,028,222 shares of the stock were exchanged, compared to its average volume of 2,469,203. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.35 and a quick ratio of 0.87. The firm’s 50-day moving average price is $325.46 and its 200 day moving average price is $287.19. The stock has a market cap of $182.97 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 1.70 and a beta of 1.16. Caterpillar Inc. has a 12-month low of $204.04 and a 12-month high of $367.22.

Caterpillar (NYSE:CAT) last posted its earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, topping the consensus estimate of $4.76 by $0.47. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The firm had revenue of $17.07 billion during the quarter, compared to analysts’ expectations of $17.06 billion. During the same quarter in the previous year, the business earned $3.86 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. As a group, analysts forecast that Caterpillar Inc. will post 21.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Anthony D. Fassino sold 4,575 shares of Caterpillar stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total value of $1,508,835.00. Following the transaction, the insider now directly owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director David Maclennan bought 350 shares of the stock in a transaction on Friday, February 23rd. The shares were bought at an average cost of $323.37 per share, for a total transaction of $113,179.50. Following the purchase, the director now owns 5,238 shares of the company’s stock, valued at approximately $1,693,812.06. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the sale, the insider now owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The disclosure for this sale can be found here. Insiders have sold 45,769 shares of company stock worth $14,509,306 in the last quarter. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CAT shares. Truist Financial began coverage on Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target for the company. Robert W. Baird lifted their price target on Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a report on Tuesday, February 6th. The Goldman Sachs Group upped their price objective on shares of Caterpillar from $274.00 to $357.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Evercore ISI downgraded shares of Caterpillar from an “outperform” rating to an “in-line” rating and lifted their target price for the stock from $321.00 to $338.00 in a research note on Tuesday, February 20th. Finally, Citigroup increased their price target on shares of Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $297.89.

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.