Blueshift Asset Management LLC Trims Holdings in Caterpillar Inc. (NYSE:CAT)

Blueshift Asset Management LLC cut its holdings in Caterpillar Inc. (NYSE:CAT) by 56.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,906 shares of the industrial products company’s stock after selling 2,486 shares during the quarter. Blueshift Asset Management LLC’s holdings in Caterpillar were worth $691,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of Caterpillar by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock worth $3,987,206,000 after buying an additional 67,148 shares during the period. Fisher Asset Management LLC grew its position in Caterpillar by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company’s stock valued at $3,294,505,000 after purchasing an additional 129,143 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Caterpillar by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock valued at $1,418,793,000 after purchasing an additional 64,452 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Caterpillar by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,289,101 shares of the industrial products company’s stock valued at $1,193,154,000 after purchasing an additional 61,723 shares during the last quarter. Finally, Amundi grew its position in Caterpillar by 17.3% during the 4th quarter. Amundi now owns 2,166,087 shares of the industrial products company’s stock valued at $782,109,000 after purchasing an additional 318,891 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on CAT shares. Evercore ISI increased their price objective on shares of Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Morgan Stanley dropped their price target on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Jefferies Financial Group raised their price target on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Truist Financial dropped their price target on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $383.80.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $336.09 on Friday. The company has a market capitalization of $160.63 billion, a price-to-earnings ratio of 15.23, 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 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 of $358.92 and a 200 day moving average of $371.98.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data 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%. On average, sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the business’s 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 sale, the insider now directly owns 6,275 shares in the company, valued at $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.