Portside Wealth Group LLC Sells 2,265 Shares of Caterpillar Inc. (NYSE:CAT)

Portside Wealth Group LLC reduced its position in Caterpillar Inc. (NYSE:CATFree Report) by 37.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,784 shares of the industrial products company’s stock after selling 2,265 shares during the quarter. Portside Wealth Group LLC’s holdings in Caterpillar were worth $1,119,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Atlas Capital Advisors LLC boosted its stake in shares of Caterpillar by 272.4% during the first quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Caterpillar by 730.8% during the 1st 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 during the last quarter. First Capital Advisors Group LLC. bought a new stake in Caterpillar during the second quarter valued at about $30,000. CGC Financial Services LLC purchased a new position in Caterpillar in the second quarter valued at about $31,000. Finally, Fortitude Family Office LLC bought a new position in Caterpillar in the fourth quarter worth about $39,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $358.11 on Monday. The firm has a market cap of $178.84 billion, a PE ratio of 17.78, a P/E/G ratio of 1.71 and a beta of 1.16. The business has a 50-day moving average price of $321.04 and a 200 day moving average price of $285.60. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25. Caterpillar Inc. has a twelve month low of $204.04 and a twelve month high of $365.52.

Caterpillar (NYSE:CATGet Free Report) last posted its quarterly 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 net margin of 15.41% and a return on equity of 56.99%. The firm had revenue of $17.07 billion for the quarter, compared to the consensus estimate of $17.06 billion. During the same period last year, the firm posted $3.86 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Sell-side analysts predict that Caterpillar Inc. will post 21.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on CAT. Stifel Nicolaus boosted their price objective on shares of Caterpillar from $285.00 to $293.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Wells Fargo & Company raised their price objective on Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. StockNews.com cut Caterpillar from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Citigroup boosted their price target on Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Finally, Sanford C. Bernstein increased their price objective on shares of Caterpillar from $216.00 to $245.00 and gave the company a “market perform” rating in a research report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Caterpillar has an average rating of “Hold” and an average price target of $297.89.

Check Out Our Latest Report on CAT

Insider Activity at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the completion of the sale, the insider now directly owns 61,092 shares in the company, valued at approximately $19,886,667.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the transaction, the insider now owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $300.04, for a total value of $3,000,400.00. Following the sale, the chief financial officer now directly owns 67,317 shares of the company’s stock, valued at $20,197,792.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,769 shares of company stock valued at $14,509,306. 0.33% of the stock is currently owned by insiders.

Caterpillar Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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