Tocqueville Asset Management L.P. Sells 5,064 Shares of Caterpillar Inc. (NYSE:CAT)

Tocqueville Asset Management L.P. lowered its stake in Caterpillar Inc. (NYSE:CAT) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,118 shares of the industrial products company’s stock after selling 5,064 shares during the quarter. Caterpillar comprises 0.8% of Tocqueville Asset Management L.P.’s portfolio, making the stock its 29th biggest holding. Tocqueville Asset Management L.P.’s holdings in Caterpillar were worth $48,290,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Flagship Wealth Advisors LLC bought a new stake in Caterpillar during the 4th quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in Caterpillar during the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new stake in Caterpillar during the 4th quarter valued at approximately $31,000. Retirement Wealth Solutions LLC bought a new stake in Caterpillar during the 4th quarter valued at approximately $34,000. Finally, Whipplewood Advisors LLC bought a new stake in Caterpillar during the 4th quarter valued at approximately $36,000. Institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CAT. Wedbush upgraded Caterpillar to an “outperform” rating in a report on Monday, February 3rd. Evercore ISI boosted their price objective on Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. 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. Truist Financial decreased their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Bank of America decreased their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Two equities 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 stock. According to data from MarketBeat, Caterpillar has a consensus rating of “Hold” and an average target price of $383.80.

Caterpillar Trading Up 2.1 %

Shares of NYSE:CAT opened at $340.46 on Monday. The stock has a market capitalization 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 1 year low of $307.05 and a 1 year high of $418.50. The firm has a fifty day moving average price of $360.81 and a 200 day moving average price of $372.66. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping 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%. Analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. This represents a 18.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the insider now directly owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

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.