Elevate Wealth Advisory Inc. Sells 36 Shares of Caterpillar Inc. (NYSE:CAT)

Elevate Wealth Advisory Inc. trimmed its position in Caterpillar Inc. (NYSE:CAT) by 0.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,913 shares of the industrial products company’s stock after selling 36 shares during the quarter. Caterpillar makes up about 1.1% of Elevate Wealth Advisory Inc.’s investment portfolio, making the stock its 24th biggest holding. Elevate Wealth Advisory Inc.’s holdings in Caterpillar were worth $1,419,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAT. FSM Wealth Advisors LLC boosted its holdings 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 acquiring an additional 25 shares during the last quarter. Allen Capital Group LLC boosted its stake in shares of Caterpillar by 0.6% in the 4th quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock valued at $1,541,000 after purchasing an additional 26 shares during the last quarter. Wagner Wealth Management LLC grew its position in shares of Caterpillar by 4.0% during the 4th quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock worth $242,000 after buying an additional 26 shares during the period. Channel Wealth LLC raised its stake 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 buying an additional 27 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. lifted its holdings in Caterpillar by 0.6% in the fourth quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company’s stock valued at $1,586,000 after buying an additional 27 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Caterpillar

In other news, Director Gerald Johnson bought 100 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the acquisition, the director now owns 3,053 shares in the company, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the stock in a transaction on Tuesday, February 18th. The shares were 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 owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Truist Financial decreased their price objective on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a report on Monday, February 3rd. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and increased their target price for the stock from $355.00 to $385.00 in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Bank of America dropped their price objective on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $383.80.

Caterpillar Price Performance

Shares of CAT opened at $338.60 on Thursday. The company has a 50 day moving average of $359.41 and a 200-day moving average of $372.23. 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 stock has a market capitalization of $161.83 billion, a P/E ratio of 15.34, a P/E/G ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a twelve month low of $307.05 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) 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%. As a group, equities research analysts forecast 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.