Garrison Point Advisors LLC Sells 45 Shares of Caterpillar Inc. (NYSE:CAT)

Garrison Point Advisors LLC trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,105 shares of the industrial products company’s stock after selling 45 shares during the period. Caterpillar comprises 0.9% of Garrison Point Advisors LLC’s holdings, making the stock its 27th biggest holding. Garrison Point Advisors LLC’s holdings in Caterpillar were worth $1,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its stake in shares of Caterpillar by 0.7% during the third quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company’s stock valued at $285,382,000 after buying an additional 5,371 shares during the period. EP Wealth Advisors LLC increased its position in Caterpillar by 55.0% during the 3rd quarter. EP Wealth Advisors LLC now owns 18,032 shares of the industrial products company’s stock valued at $7,053,000 after purchasing an additional 6,400 shares during the period. Glen Eagle Advisors LLC raised its holdings in shares of Caterpillar by 8.7% in the 3rd quarter. Glen Eagle Advisors LLC now owns 6,346 shares of the industrial products company’s stock valued at $2,482,000 after purchasing an additional 509 shares in the last quarter. Zurich Insurance Group Ltd FI lifted its position in shares of 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, Zega Financial LLC boosted its stake in shares of Caterpillar by 3.5% during the third quarter. Zega Financial LLC now owns 3,625 shares of the industrial products company’s stock valued at $1,418,000 after purchasing an additional 121 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CAT shares. DA Davidson upped their target price on Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Truist Financial cut their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Citigroup increased their price target on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Morgan Stanley cut their price objective on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Finally, UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and raised their target price for the company from $355.00 to $385.00 in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $383.80.

Insider Buying and Selling

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the transaction, the insider now owns 6,275 shares of the company’s stock, valued at $2,225,742.50. This represents a 27.87 % 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 insiders.

Caterpillar Price Performance

NYSE:CAT opened at $287.57 on Friday. The firm’s fifty day moving average is $346.83 and its two-hundred day moving average is $371.31. The firm has a market cap of $137.44 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 1.87 and a beta of 1.21. 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 one year low of $281.50 and a one year high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly 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%. Research 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.