Diamond Hill Capital Management Inc. Cuts Stock Position in Caterpillar Inc. (NYSE:CAT)

Diamond Hill Capital Management Inc. lowered its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 30.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 932,467 shares of the industrial products company's stock after selling 417,141 shares during the quarter. Caterpillar comprises 1.5% of Diamond Hill Capital Management Inc.'s portfolio, making the stock its 25th largest position. Diamond Hill Capital Management Inc. owned approximately 0.19% of Caterpillar worth $338,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of CAT. Halbert Hargrove Global Advisors LLC purchased a new stake in Caterpillar in the fourth quarter worth about $27,000. Noble Wealth Management PBC purchased a new stake in Caterpillar in the fourth quarter worth about $31,000. Retirement Wealth Solutions LLC bought a new position in shares of Caterpillar in the fourth quarter worth approximately $34,000. Albion Financial Group UT lifted its stake in shares of Caterpillar by 334.8% in the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company's stock worth $36,000 after buying an additional 77 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in shares of Caterpillar in the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Activity at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the transaction, the chief financial officer now directly owns 45,182 shares of the company's stock, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gerald Johnson acquired 100 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was 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 approximately $1,116,085.21. This represents 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 currently owned by corporate insiders.

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Analyst Ratings Changes

Several research analysts have recently issued reports on CAT shares. JPMorgan Chase & Co. dropped their target price on shares of Caterpillar from $515.00 to $490.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. DA Davidson increased their price objective on shares of Caterpillar from $350.00 to $357.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Bank of America lowered their price objective on shares of Caterpillar from $452.00 to $414.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. 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. Finally, UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and increased their price objective for the company from $355.00 to $385.00 in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $383.80.

Caterpillar Price Performance

CAT traded down $5.97 during trading on Tuesday, hitting $336.67. 3,309,912 shares of the company traded hands, compared to its average volume of 2,432,175. The company has a market cap of $160.90 billion, a PE ratio of 15.25, a P/E/G ratio of 1.87 and a beta of 1.15. The stock's 50-day simple moving average is $360.39 and its two-hundred day simple moving average is $372.60. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

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

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.