Mitsubishi UFJ Trust & Banking Corp Reduces Holdings in Caterpillar Inc. (NYSE:CAT)

Mitsubishi UFJ Trust & Banking Corp cut its stake in Caterpillar Inc. (NYSE:CAT) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 400,306 shares of the industrial products company’s stock after selling 34,908 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Caterpillar were worth $145,215,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CAT. Florida Financial Advisors LLC boosted its position in shares of Caterpillar by 19.2% in the 4th quarter. Florida Financial Advisors LLC now owns 701 shares of the industrial products company’s stock valued at $254,000 after purchasing an additional 113 shares during the period. Aire Advisors LLC lifted its stake in Caterpillar by 1.2% in the fourth quarter. Aire Advisors LLC now owns 9,217 shares of the industrial products company’s stock valued at $3,343,000 after buying an additional 105 shares during the last quarter. Bay Capital Advisors LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at approximately $465,000. PKS Advisory Services LLC purchased a new position in shares of Caterpillar during the fourth quarter worth approximately $202,000. Finally, Prestige Wealth Management Group LLC raised its position in Caterpillar by 3.6% in the 4th quarter. Prestige Wealth Management Group LLC now owns 2,513 shares of the industrial products company’s stock valued at $912,000 after purchasing an additional 88 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Bank of America lowered their price objective on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Citigroup upped their price objective on Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Evercore ISI lifted their target price on Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $355.00 to $385.00 in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $383.80.

Insider Activity at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the sale, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were bought at an average cost of $365.57 per share, with a total value of $36,557.00. Following the transaction, the director now directly owns 3,053 shares of the company’s stock, valued at $1,116,085.21. This represents a 3.39 % increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $341.83 on Tuesday. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50. The firm has a market capitalization of $163.37 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The business’s 50 day simple moving average is $358.19 and its 200-day simple moving average is $372.36. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share 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 analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Company 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.