Caterpillar Inc. (NYSE:CAT) Shares Sold by Family Legacy Inc.

Family Legacy Inc. lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,665 shares of the industrial products company’s stock after selling 491 shares during the period. Caterpillar comprises 2.0% of Family Legacy Inc.’s portfolio, making the stock its 10th largest holding. Family Legacy Inc.’s holdings in Caterpillar were worth $6,017,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new stake in Caterpillar during the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new position in Caterpillar during the 4th quarter worth approximately $27,000. Cyrus J. Lawrence LLC bought a new stake in Caterpillar during the fourth quarter valued at $27,000. Noble Wealth Management PBC bought a new position in Caterpillar during the 4th quarter worth $31,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Caterpillar during the fourth quarter valued at about $34,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the sale, the insider now owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Tuesday, February 4th. The stock was acquired at an average cost of $365.57 per share, with a total value of $36,557.00. Following the completion of the transaction, the director now owns 3,053 shares in the company, valued at approximately $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 currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CAT shares. Citigroup lifted their price target on Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. cut their price objective on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Truist Financial dropped their price target on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Jefferies Financial Group lifted their price target on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Morgan Stanley cut their price target on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $383.80.

Caterpillar Stock Down 2.8 %

Shares of NYSE:CAT opened at $329.65 on Monday. 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 company has a market capitalization of $157.55 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The company has a fifty day moving average of $354.99 and a 200-day moving average of $372.50.

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