Garrison Point Advisors LLC Reduces Position in Caterpillar Inc. (NYSE:CAT)

Garrison Point Advisors LLC trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 0.9% during the fourth quarter, HoldingsChannel reports. The firm owned 5,105 shares of the industrial products company’s stock after selling 45 shares during the period. Caterpillar comprises about 0.9% of Garrison Point Advisors LLC’s investment portfolio, making the stock its 27th biggest holding. Garrison Point Advisors LLC’s holdings in Caterpillar were worth $1,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Flagship Wealth Advisors LLC acquired a new position in Caterpillar during the fourth quarter worth $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at about $27,000. Cyrus J. Lawrence LLC acquired a new stake in Caterpillar during the fourth quarter worth about $27,000. Noble Wealth Management PBC purchased a new position in Caterpillar during the fourth quarter worth about $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in Caterpillar in the 4th quarter valued at about $34,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Price Performance

CAT stock opened at $287.57 on Friday. Caterpillar Inc. has a 1 year low of $281.50 and a 1 year high of $418.50. The firm has a market capitalization of $137.44 billion, a P/E ratio of 13.03, a P/E/G ratio of 1.87 and a beta of 1.21. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The business’s 50-day moving average is $346.83 and its two-hundred day moving average is $371.31.

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, 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 anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Caterpillar

In other news, insider Jason Kaiser sold 2,425 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the transaction, the insider now owns 6,275 shares in the company, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average price of $365.57 per share, with a total value of $36,557.00. Following the purchase, the director now owns 3,053 shares of the company’s stock, valued at $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. 0.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of recent analyst reports. Truist Financial decreased 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. Evercore ISI upped their price target on Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. Morgan Stanley decreased their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Finally, Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $383.80.

About Caterpillar

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.