Envestnet Portfolio Solutions Inc. Trims Stock Position in Caterpillar Inc. (NYSE:CAT)

Envestnet Portfolio Solutions Inc. cut its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 13.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,719 shares of the industrial products company's stock after selling 2,339 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Caterpillar were worth $5,339,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CAT. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Caterpillar during the 4th quarter valued at $27,000. Noble Wealth Management PBC acquired a new position in shares of Caterpillar during the fourth quarter valued at about $31,000. Retirement Wealth Solutions LLC bought a new position in shares of Caterpillar during the 4th quarter worth about $34,000. Albion Financial Group UT grew its stake in shares of Caterpillar by 334.8% in the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company's stock valued at $36,000 after buying an additional 77 shares during the period. Finally, Whipplewood Advisors LLC bought a new stake in Caterpillar in the 4th quarter valued at about $36,000. Institutional investors own 70.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on Caterpillar from $515.00 to $490.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. DA Davidson lifted their price target 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. Raymond James upgraded shares of Caterpillar from a "market perform" rating to an "outperform" rating in a report on Monday, February 3rd. Citigroup raised their price objective on shares of Caterpillar from $420.00 to $430.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Finally, Evercore ISI boosted their target price on shares of Caterpillar from $365.00 to $375.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Two 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $383.80.

Remove Ads

Insider Activity

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the sale, the insider now owns 6,275 shares in the company, valued at $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company's stock.

Caterpillar Stock Performance

CAT stock traded down $0.76 during midday trading on Friday, hitting $335.49. The company's stock had a trading volume of 6,752,336 shares, compared to its average volume of 2,447,156. The stock has a market cap of $160.34 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.87 and a beta of 1.15. 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 stock's 50-day moving average price is $358.61 and its 200 day moving average price is $371.83. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50.

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