Sagespring Wealth Partners LLC Sells 1,503 Shares of Caterpillar Inc. $CAT

Sagespring Wealth Partners LLC trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 7.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 19,761 shares of the industrial products company’s stock after selling 1,503 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Caterpillar were worth $11,320,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CAT. Pacific Point Advisors LLC purchased a new stake in shares of Caterpillar during the fourth quarter valued at approximately $579,000. Brighton Jones LLC raised its holdings in Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after acquiring an additional 2,519 shares during the last quarter. United Bank lifted its position in Caterpillar by 108.5% in the 2nd quarter. United Bank now owns 4,083 shares of the industrial products company’s stock valued at $1,585,000 after acquiring an additional 2,125 shares in the last quarter. Schnieders Capital Management LLC. lifted its position in Caterpillar by 3.9% in the 2nd quarter. Schnieders Capital Management LLC. now owns 9,147 shares of the industrial products company’s stock valued at $3,551,000 after acquiring an additional 347 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its stake in Caterpillar by 1.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 218,908 shares of the industrial products company’s stock valued at $84,982,000 after purchasing an additional 2,361 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Denise C. Johnson sold 39,138 shares of the company’s 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 completion of the sale, the insider directly owned 43,350 shares of the company’s stock, valued at approximately $29,524,818. This represents a 47.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony D. Fassino sold 10,671 shares of the 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 completion of the transaction, the insider owned 41,151 shares in the company, valued at $28,001,197.95. The trade was a 20.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 135,950 shares of company stock worth $94,327,990. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CAT shares. Wall Street Zen cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. CICC Research started coverage on Caterpillar in a research report on Friday, February 6th. They set an “outperform” rating on the stock. Morgan Stanley lifted their price objective on Caterpillar from $400.00 to $425.00 and gave the stock an “underweight” rating in a report on Tuesday, February 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Caterpillar in a research note on Monday, December 29th. Finally, Jefferies Financial Group raised their price target on shares of Caterpillar from $785.00 to $825.00 and gave the company a “buy” rating in a report on Friday, March 6th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $730.50.

Caterpillar Stock Performance

Shares of CAT opened at $680.15 on Friday. The firm has a market capitalization of $316.47 billion, a P/E ratio of 36.14, a PEG ratio of 1.63 and a beta of 1.54. 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 Inc. has a one year low of $267.30 and a one year high of $789.81. The business has a fifty day moving average of $701.95 and a 200 day moving average of $593.15.

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

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.