Delta Asset Management LLC TN Sells 912 Shares of Caterpillar Inc. (NYSE:CAT)

Delta Asset Management LLC TN reduced its stake in Caterpillar Inc. (NYSE:CAT) by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,734 shares of the industrial products company’s stock after selling 912 shares during the quarter. Caterpillar makes up 1.9% of Delta Asset Management LLC TN’s investment portfolio, making the stock its 16th largest holding. Delta Asset Management LLC TN’s holdings in Caterpillar were worth $21,669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of CAT. Flagship Wealth Advisors LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Caterpillar during the 4th quarter worth approximately $27,000. Cyrus J. Lawrence LLC bought a new position in shares of Caterpillar in the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC purchased a new stake in shares of Caterpillar during the fourth quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC purchased a new position in Caterpillar in the fourth quarter worth $34,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

CAT opened at $340.91 on Thursday. 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 1 year low of $307.05 and a 1 year high of $418.50. The stock’s 50 day simple moving average is $356.95 and its 200 day simple moving average is $372.24. The firm has a market cap of $162.93 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.87 and a beta of 1.15.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results 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 net margin of 16.65% and a return on equity of 58.18%. As a group, analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CAT shares. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Citigroup boosted their target price on Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Evercore ISI boosted their target price on shares of Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Wedbush raised Caterpillar to an “outperform” rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group increased their price objective on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $383.80.

Insider Activity at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was 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 directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. The trade was a 27.87 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

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.