Covington Investment Advisors Inc. Sells 13,070 Shares of Caterpillar Inc. (NYSE:CAT)

Covington Investment Advisors Inc. reduced its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 89.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,475 shares of the industrial products company's stock after selling 13,070 shares during the quarter. Covington Investment Advisors Inc.'s holdings in Caterpillar were worth $5,349,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. boosted its position in shares of Caterpillar by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company's stock worth $285,382,000 after acquiring an additional 5,371 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings in shares of Caterpillar by 120.4% in the 3rd quarter. Loomis Sayles & Co. L P now owns 3,854 shares of the industrial products company's stock valued at $1,507,000 after purchasing an additional 2,105 shares in the last quarter. Townsquare Capital LLC increased its stake in shares of Caterpillar by 5.1% in the 3rd quarter. Townsquare Capital LLC now owns 27,438 shares of the industrial products company's stock valued at $10,732,000 after purchasing an additional 1,338 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Caterpillar during the 3rd quarter worth $35,201,000. Finally, CreativeOne Wealth LLC lifted its position in shares of Caterpillar by 14.2% during the 3rd quarter. CreativeOne Wealth LLC now owns 10,130 shares of the industrial products company's stock worth $3,962,000 after buying an additional 1,263 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

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Insider Buying and Selling at Caterpillar

In related news, Director Gerald Johnson bought 100 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average cost of $365.57 per share, with a total value of $36,557.00. Following the completion of the purchase, the director now directly owns 3,053 shares in the company, valued at $1,116,085.21. The trade was a 3.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company's stock in a transaction dated 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 disclosure for this sale can be found here. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

CAT has been the subject of several research analyst reports. StockNews.com downgraded Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. DA Davidson upped their price objective on shares of Caterpillar from $350.00 to $357.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and raised their target price for the company from $355.00 to $385.00 in a research report on Monday, February 3rd. Truist Financial lowered their price target 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. Finally, Raymond James raised Caterpillar from a "market perform" rating to an "outperform" rating 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 company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $383.80.

Caterpillar Trading Up 0.6 %

Shares of Caterpillar stock traded up $1.82 during midday trading on Tuesday, reaching $331.62. The company had a trading volume of 570,418 shares, compared to its average volume of 2,488,832. The firm has a market cap of $158.49 billion, a PE ratio of 15.02, a P/E/G ratio of 1.87 and a beta of 1.15. The stock has a fifty day moving average price of $353.87 and a 200 day moving average price of $372.44. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two week high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating 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, equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

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.