Westchester Capital Management Inc. Sells 1,962 Shares of Caterpillar Inc. (NYSE:CAT)

Westchester Capital Management Inc. trimmed its stake in shares of Caterpillar Inc. (NYSE:CAT) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,967 shares of the industrial products company’s stock after selling 1,962 shares during the period. Caterpillar makes up about 5.7% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 5th biggest position. Westchester Capital Management Inc.’s holdings in Caterpillar were worth $22,842,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Nordea Investment Management AB increased its stake in Caterpillar by 1.6% in the fourth quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after purchasing an additional 10,212 shares in the last quarter. West Wealth Group LLC bought a new stake in Caterpillar in the fourth quarter valued at approximately $230,000. Citizens Financial Group Inc. RI increased its stake in Caterpillar by 43.0% in the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after purchasing an additional 4,181 shares in the last quarter. Cadinha & Co. LLC bought a new stake in Caterpillar in the fourth quarter valued at approximately $11,084,000. Finally, Atomi Financial Group Inc. increased its stake in Caterpillar by 3.9% in the fourth quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock valued at $8,414,000 after purchasing an additional 871 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Down 1.6 %

Shares of NYSE CAT opened at $339.66 on Wednesday. The company has a market capitalization of $162.33 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The company’s 50 day moving average price is $362.29 and its 200-day moving average price is $372.93.

Caterpillar (NYSE:CAT) last released its quarterly earnings data 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 net margin of 16.65% and a return on equity of 58.18%. Equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CAT shares. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. Bank of America reduced their target price on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a report on Friday, January 31st. Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Truist Financial cut their price target on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Evercore ISI increased their price target on shares of Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Caterpillar has an average rating of “Hold” and an average target price of $383.80.

Insider Buying and Selling at Caterpillar

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

Caterpillar 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.