Worth Financial Advisory Group LLC Lowers Position in Caterpillar Inc. (NYSE:CAT)

Worth Financial Advisory Group LLC lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 6.2% in the 4th quarter, HoldingsChannel reports. The firm owned 2,176 shares of the industrial products company’s stock after selling 145 shares during the quarter. Worth Financial Advisory Group LLC’s holdings in Caterpillar were worth $789,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CAT. Flagship Wealth Advisors LLC purchased a new stake in Caterpillar during the fourth quarter worth $26,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Caterpillar in the 4th quarter worth $27,000. Cyrus J. Lawrence LLC bought a new stake in Caterpillar during the fourth quarter valued at about $27,000. Noble Wealth Management PBC purchased a new position in Caterpillar in the fourth quarter valued at about $31,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Caterpillar during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In related news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was acquired at an average price of $365.57 per share, with a total value of $36,557.00. Following the completion of the purchase, the director now directly owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. This trade represents a 3.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available 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 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the transaction, the chief financial officer now directly owns 45,182 shares in the company, valued at $17,173,226.38. This represents 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 owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on CAT shares. DA Davidson boosted their price objective on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Truist Financial reduced their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Morgan Stanley dropped their target price on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Bank of America decreased their price target on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Jefferies Financial Group boosted their price target on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $383.80.

Caterpillar Price Performance

Shares of NYSE CAT opened at $340.91 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The stock has a market capitalization of $162.93 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.87 and a beta of 1.15. The firm’s 50 day simple moving average is $356.95 and its 200-day simple moving average is $372.24. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

About Caterpillar

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.