Greenwich Wealth Management LLC Cuts Stake in Caterpillar Inc. (NYSE:CAT)

Greenwich Wealth Management LLC cut its stake in Caterpillar Inc. (NYSE:CAT) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,366 shares of the industrial products company’s stock after selling 47 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Caterpillar were worth $858,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. FSM Wealth Advisors LLC raised its position in Caterpillar by 3.8% in the fourth quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 25 shares during the period. Allen Capital Group LLC increased its position in shares of Caterpillar by 0.6% during the fourth quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock worth $1,541,000 after acquiring an additional 26 shares during the last quarter. Wagner Wealth Management LLC increased its position in shares of Caterpillar by 4.0% during the fourth quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock worth $242,000 after acquiring an additional 26 shares during the last quarter. Channel Wealth LLC increased its position in shares of Caterpillar by 1.9% during the fourth quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company’s stock worth $533,000 after acquiring an additional 27 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. increased its position in shares of Caterpillar by 0.6% during the fourth quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company’s stock worth $1,586,000 after acquiring an additional 27 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were purchased at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the acquisition, the director now owns 3,053 shares of the company’s stock, valued at $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CAT. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. DA Davidson boosted their price objective on Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group boosted their price objective on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. Truist Financial lowered their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Finally, UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $355.00 to $385.00 in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $383.80.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $340.46 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The stock has a 50 day simple moving average of $360.81 and a 200-day simple moving average of $372.49. The company has a market cap of $162.72 billion, a PE ratio of 15.43, a P/E/G ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a 12-month low of $307.05 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts forecast 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.