Korea Investment CORP Sells 155,031 Shares of Caterpillar Inc. (NYSE:CAT)

Korea Investment CORP cut its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 29.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 365,449 shares of the industrial products company's stock after selling 155,031 shares during the period. Korea Investment CORP owned 0.08% of Caterpillar worth $132,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in Caterpillar in the fourth quarter valued at approximately $353,231,000. Proficio Capital Partners LLC increased its holdings in Caterpillar by 50,072.7% in the fourth quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company's stock valued at $291,938,000 after purchasing an additional 803,166 shares during the last quarter. Amundi lifted its stake in Caterpillar by 17.3% in the fourth quarter. Amundi now owns 2,166,087 shares of the industrial products company's stock valued at $782,109,000 after buying an additional 318,891 shares during the period. Vanguard Group Inc. grew its position in shares of Caterpillar by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company's stock worth $16,980,629,000 after buying an additional 284,366 shares during the period. Finally, Zurich Insurance Group Ltd FI raised its position in shares of Caterpillar by 4,018.6% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company's stock valued at $99,874,000 after acquiring an additional 249,155 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at Caterpillar

In related news, 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 completion of the transaction, the director now directly owns 3,053 shares of the company's stock, valued at $1,116,085.21. This trade represents a 3.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Thursday, January 16th. The stock was 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company's stock.

Caterpillar Stock Down 0.6 %

Shares of NYSE CAT traded down $1.93 during mid-day trading on Monday, hitting $327.76. The company had a trading volume of 612,823 shares, compared to its average volume of 2,531,221. Caterpillar Inc. has a one year low of $307.05 and a one year high of $418.50. The company has a market capitalization of $156.65 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The firm has a 50-day simple moving average of $354.99 and a two-hundred day simple moving average of $372.50.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data 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 return on equity of 58.18% and a net margin of 16.65%. On average, equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wedbush upgraded shares of Caterpillar to an "outperform" rating in a report on Monday, February 3rd. StockNews.com cut shares of Caterpillar from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on Caterpillar from $515.00 to $490.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Evercore ISI raised their price target on Caterpillar from $365.00 to $375.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Finally, Truist Financial decreased their price objective on Caterpillar from $455.00 to $438.00 and set a "buy" rating for the company 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.