King Luther Capital Management Corp Trims Position in Caterpillar Inc. (NYSE:CAT)

King Luther Capital Management Corp reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,670 shares of the industrial products company’s stock after selling 50 shares during the quarter. King Luther Capital Management Corp’s holdings in Caterpillar were worth $6,773,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Caterpillar during the fourth quarter valued at approximately $353,231,000. Proficio Capital Partners LLC grew its position in shares of Caterpillar by 50,072.7% during the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock valued at $291,938,000 after acquiring an additional 803,166 shares during the period. Amundi increased its stake in shares of Caterpillar by 17.3% in the 4th quarter. Amundi now owns 2,166,087 shares of the industrial products company’s stock worth $782,109,000 after purchasing an additional 318,891 shares in the last quarter. Zurich Insurance Group Ltd FI raised its holdings in Caterpillar by 4,018.6% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock worth $99,874,000 after purchasing an additional 249,155 shares during the period. Finally, Strategic Financial Concepts LLC grew its holdings in Caterpillar by 36,168.5% during the fourth quarter. Strategic Financial Concepts LLC now owns 227,041 shares of the industrial products company’s stock valued at $82,361,000 after purchasing an additional 226,415 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In related news, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the sale, the insider now owns 6,275 shares in the company, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Price Performance

Caterpillar stock opened at $339.66 on Wednesday. The firm has a market capitalization of $162.33 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a 12-month low of $307.05 and a 12-month high of $418.50. The firm has a 50-day moving average price of $362.29 and a 200-day moving average price of $372.93. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. As a group, equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CAT shares. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $355.00 to $385.00 in a research note on Monday, February 3rd. Evercore ISI raised their target price on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Wedbush upgraded shares of Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Truist Financial dropped their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $383.80.

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.