Caterpillar Inc. (NYSE:CAT) Shares Sold by Korea Investment CORP

Korea Investment CORP decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 29.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 365,449 shares of the industrial products company’s stock after selling 155,031 shares during the period. Korea Investment CORP owned about 0.08% of Caterpillar worth $132,570,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Flagship Wealth Advisors LLC acquired a new position in Caterpillar during the 4th quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Caterpillar during the 4th quarter valued at $27,000. Cyrus J. Lawrence LLC acquired a new position in Caterpillar in the fourth quarter worth approximately $27,000. Noble Wealth Management PBC purchased a new stake in shares of Caterpillar during the fourth quarter valued at $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Caterpillar in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Down 0.5 %

NYSE:CAT opened at $340.91 on Thursday. The firm has a 50-day moving average price of $356.95 and a two-hundred day moving average price of $372.24. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50. The firm has a market cap of $162.93 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on CAT. Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. Citigroup lifted their price objective on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Truist Financial decreased their price objective on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Bank of America cut their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Evercore ISI increased their target price on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Two investment 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 data from MarketBeat, Caterpillar has a consensus rating of “Hold” and a consensus price target of $383.80.

Insider Buying and Selling at Caterpillar

In other Caterpillar 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 SEC, which can be accessed through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’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 owns 45,182 shares in the company, valued at $17,173,226.38. The trade was a 18.12 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

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.