Caterpillar Inc. (NYSE:CAT) Shares Sold by Argent Advisors Inc.

Argent Advisors Inc. decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 1.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,979 shares of the industrial products company’s stock after selling 121 shares during the period. Caterpillar makes up about 0.9% of Argent Advisors Inc.’s portfolio, making the stock its 23rd biggest holding. Argent Advisors Inc.’s holdings in Caterpillar were worth $2,532,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Flagship Wealth Advisors LLC purchased a new stake in Caterpillar during the 4th quarter worth $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Caterpillar during the 4th quarter worth $27,000. Noble Wealth Management PBC purchased a new stake in Caterpillar during the 4th quarter worth $31,000. Retirement Wealth Solutions LLC purchased a new stake in Caterpillar during the 4th quarter worth $34,000. Finally, Albion Financial Group UT increased its stake in Caterpillar by 334.8% during the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after buying an additional 77 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CAT. Jefferies Financial Group lifted their price target on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Wedbush raised shares of Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Bank of America dropped their target price on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Citigroup boosted their target price on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Evercore ISI boosted 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 issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $383.80.

Insider Buying and Selling at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jason Kaiser sold 2,425 shares of the company’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 transaction of $860,147.50. Following the completion of the sale, the insider now directly 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 disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Caterpillar Trading Up 0.9 %

Caterpillar stock opened at $342.66 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The firm has a 50-day moving average price of $360.39 and a two-hundred day moving average price of $372.60. The firm has a market capitalization of $163.77 billion, a price-to-earnings ratio of 15.53, a PEG 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.

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

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.