Corebridge Financial Inc. Lowers Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Corebridge Financial Inc. cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 132,614 shares of the industrial products company’s stock after selling 709 shares during the period. Corebridge Financial Inc.’s holdings in Caterpillar were worth $48,107,000 as of its most recent SEC filing.

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

Insider Activity at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were bought at an average cost of $365.57 per share, with a total value of $36,557.00. Following the purchase, the director now owns 3,053 shares in the company, valued at approximately $1,116,085.21. The trade was 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.

Analyst Ratings Changes

A number of brokerages have weighed in on CAT. Truist Financial lowered their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Citigroup upped their price objective on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Wedbush raised Caterpillar to an “outperform” rating in a report on Monday, February 3rd. Evercore ISI upped their price target on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Finally, StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $383.80.

Caterpillar Stock Performance

Caterpillar stock opened at $335.49 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 fifty-two week low of $307.05 and a fifty-two week high of $418.50. The stock has a fifty day moving average of $358.61 and a two-hundred day moving average of $372.30. The company has a market capitalization of $160.34 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.87 and a beta of 1.15.

Caterpillar (NYSE:CAT) last announced its 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 net margin of 16.65% and a return on equity of 58.18%. On average, analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal 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.