Capital Wealth Planning LLC Trims Position in Caterpillar Inc. $CAT

Capital Wealth Planning LLC lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,619,186 shares of the industrial products company’s stock after selling 14,664 shares during the period. Caterpillar accounts for 5.4% of Capital Wealth Planning LLC’s holdings, making the stock its 3rd biggest holding. Capital Wealth Planning LLC owned about 0.35% of Caterpillar worth $772,595,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. WealthShield Partners LLC increased 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 valued at $535,000 after buying an additional 18 shares during the period. one8zero8 LLC lifted its stake in shares of Caterpillar by 3.2% in the third quarter. one8zero8 LLC now owns 619 shares of the industrial products company’s stock worth $295,000 after acquiring an additional 19 shares during the period. Abacus Planning Group Inc. boosted its holdings in Caterpillar by 0.6% in the third 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% during the 3rd quarter. Cyr Financial Inc. now owns 811 shares of the industrial products company’s stock worth $387,000 after purchasing an additional 20 shares during the last quarter. Finally, Perennial Investment Advisors LLC lifted its position in shares of 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 during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Down 1.0%

CAT opened at $693.89 on Friday. The business’s fifty day simple moving average is $693.92 and its 200 day simple moving average is $583.93. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $789.81. The company has a quick ratio of 0.94, a current ratio of 1.44 and a debt-to-equity ratio of 1.44. The stock has a market cap of $322.86 billion, a PE ratio of 36.87, a P/E/G ratio of 1.65 and a beta of 1.54.

Caterpillar (NYSE:CAT) last issued its quarterly 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 last year, the business earned $5.14 earnings per share. The business’s quarterly revenue was up 17.9% on a year-over-year basis. As a group, research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Anthony D. Fassino sold 10,671 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $680.45, for a total transaction of $7,261,081.95. Following the transaction, the insider directly owned 41,151 shares in the company, valued at $28,001,197.95. This trade represents a 20.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $575.06, for a total value of $5,750,600.00. Following the completion of the transaction, the chief financial officer directly owned 45,460 shares in the company, valued at $26,142,227.60. This trade represents a 18.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 135,950 shares of company stock valued at $94,327,990. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CAT shares. Truist Financial upped their price target on shares of Caterpillar from $729.00 to $786.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Morgan Stanley upped their target price on shares of Caterpillar from $400.00 to $425.00 and gave the stock an “underweight” rating in a report on Tuesday, February 3rd. CICC Research began coverage on Caterpillar in a research note on Friday, February 6th. They set an “outperform” rating on the stock. UBS Group reissued a “neutral” rating and set a $677.00 target price on shares of Caterpillar in a research report on Monday, February 2nd. Finally, Barclays boosted their price target on shares of Caterpillar from $610.00 to $625.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Sixteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $730.50.

About Caterpillar

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.