Primecap Management Co. CA Sells 61,010 Shares of Caterpillar Inc. (NYSE:CAT)

Primecap Management Co. CA cut its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,424,446 shares of the industrial products company's stock after selling 61,010 shares during the period. Primecap Management Co. CA owned approximately 0.30% of Caterpillar worth $516,732,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Axxcess Wealth Management LLC raised its position in shares of Caterpillar by 2.7% during the 4th quarter. Axxcess Wealth Management LLC now owns 20,706 shares of the industrial products company's stock worth $7,511,000 after buying an additional 549 shares in the last quarter. Flagship Wealth Advisors LLC bought a new stake in Caterpillar during the fourth quarter worth approximately $26,000. Wealth Architects LLC lifted its position in Caterpillar by 17.9% in the fourth quarter. Wealth Architects LLC now owns 4,139 shares of the industrial products company's stock worth $1,501,000 after purchasing an additional 628 shares during the period. Cozad Asset Management Inc. boosted its stake in Caterpillar by 3.2% during the 4th quarter. Cozad Asset Management Inc. now owns 7,664 shares of the industrial products company's stock valued at $2,780,000 after purchasing an additional 239 shares in the last quarter. Finally, TCTC Holdings LLC increased its position in shares of Caterpillar by 96.0% during the 4th quarter. TCTC Holdings LLC now owns 196 shares of the industrial products company's stock valued at $71,000 after purchasing an additional 96 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of research analysts recently issued reports on CAT shares. Evercore ISI lifted their target price on Caterpillar from $365.00 to $375.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. Truist Financial dropped their price target on Caterpillar from $455.00 to $438.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. Jefferies Financial Group raised their price objective on Caterpillar from $455.00 to $475.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. DA Davidson boosted their target price on Caterpillar from $350.00 to $357.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Finally, StockNews.com lowered Caterpillar from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Two research 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. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $383.80.

Caterpillar Stock Down 0.2 %

Shares of Caterpillar stock traded down $0.76 on Friday, hitting $335.49. 6,752,336 shares of the company traded hands, compared to its average volume of 2,448,895. Caterpillar Inc. has a 12-month low of $307.05 and a 12-month high of $418.50. 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 company has a market cap of $160.34 billion, a PE ratio of 15.20, a PEG ratio of 1.87 and a beta of 1.15. The company has a 50-day moving average price of $358.92 and a 200 day moving average price of $371.98.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Activity at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm's stock in a transaction on 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 approximately $17,173,226.38. This trade represents a 18.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gerald Johnson bought 100 shares of the stock in a transaction on Tuesday, February 4th. The shares were acquired at an average cost of $365.57 per share, for a total transaction 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 approximately $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. Insiders own 0.29% of the company's stock.

Caterpillar Company 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.