Ipsen Advisor Group LLC Takes Position in Caterpillar Inc. (NYSE:CAT)

Ipsen Advisor Group LLC acquired a new stake in Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 713 shares of the industrial products company’s stock, valued at approximately $259,000.

Other hedge funds also recently made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new stake in Caterpillar during the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Caterpillar during the fourth quarter valued at $27,000. Noble Wealth Management PBC bought a new stake in shares of Caterpillar during the 4th quarter worth about $31,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Caterpillar in the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 45,182 shares in the company, valued at $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jason Kaiser sold 2,425 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction 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. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CAT shares. Bank of America decreased their target price on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a report on Friday, January 31st. Truist Financial lowered 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. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Evercore ISI raised their price target on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. cut their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Two 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’s stock. According to data from MarketBeat.com, Caterpillar presently has an average rating of “Hold” and a consensus target price of $383.80.

Caterpillar Price Performance

CAT stock opened at $342.65 on Wednesday. The company’s fifty day simple moving average is $357.63 and its 200 day simple moving average is $372.46. Caterpillar Inc. has a 12-month low of $307.05 and a 12-month high of $418.50. The firm has a market cap of $163.76 billion, a price-to-earnings ratio of 15.53, 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.

Caterpillar (NYSE:CAT) last posted 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 return on equity of 58.18% and a net margin of 16.65%. On average, analysts expect that Caterpillar Inc. will post 19.86 earnings per share 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.