Evanson Asset Management LLC Lowers Stock Position in Caterpillar Inc. (NYSE:CAT)

Evanson Asset Management LLC cut its holdings in Caterpillar Inc. (NYSE:CAT) by 7.9% during the fourth quarter, HoldingsChannel reports. The firm owned 1,350 shares of the industrial products company’s stock after selling 116 shares during the period. Evanson Asset Management LLC’s holdings in Caterpillar were worth $399,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Atlas Capital Advisors LLC lifted its stake in shares of Caterpillar by 272.4% in the 1st quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 79 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Caterpillar by 730.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 95 shares in the last quarter. First Capital Advisors Group LLC. acquired a new stake in Caterpillar in the second quarter valued at about $30,000. CGC Financial Services LLC acquired a new position in Caterpillar during the 2nd quarter worth approximately $31,000. Finally, SkyView Investment Advisors LLC purchased a new position in shares of Caterpillar during the 1st quarter worth approximately $35,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Price Performance

CAT stock traded up $1.73 during midday trading on Thursday, reaching $366.38. 2,028,222 shares of the stock were exchanged, compared to its average volume of 2,469,203. Caterpillar Inc. has a 52 week low of $204.04 and a 52 week high of $367.22. 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 stock has a market capitalization of $182.97 billion, a PE ratio of 18.19, a P/E/G ratio of 1.70 and a beta of 1.16. The company has a fifty day moving average price of $325.46 and a 200 day moving average price of $287.19.

Caterpillar (NYSE:CAT) last announced its earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, beating 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 business had revenue of $17.07 billion for the quarter, compared to analysts’ expectations of $17.06 billion. During the same period in the prior year, the business posted $3.86 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. As a group, analysts expect that Caterpillar Inc. will post 21.25 EPS for the current fiscal year.

Insider Activity

In other news, insider Lange Bob De sold 21,194 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the transaction, the insider now owns 61,092 shares in the company, valued at approximately $19,886,667.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Lange Bob De sold 21,194 shares of Caterpillar stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total value of $6,899,070.88. Following the completion of the transaction, the insider now directly owns 61,092 shares in the company, valued at approximately $19,886,667.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Maclennan purchased 350 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was bought at an average cost of $323.37 per share, with a total value of $113,179.50. Following the completion of the acquisition, the director now directly owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The disclosure for this purchase can be found here. Insiders sold 45,769 shares of company stock worth $14,509,306 in the last quarter. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CAT shares. StockNews.com downgraded Caterpillar from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. TD Cowen increased their price objective on shares of Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. 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. Morgan Stanley started coverage on Caterpillar in a report on Monday, January 8th. They set an “equal weight” rating and a $270.00 target price on the stock. Finally, Truist Financial assumed coverage on shares of Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $297.89.

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.