Optimum Investment Advisors Cuts Stake in Caterpillar Inc. (NYSE:CAT)

Optimum Investment Advisors lessened its stake in Caterpillar Inc. (NYSE:CAT) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,283 shares of the industrial products company’s stock after selling 125 shares during the quarter. Caterpillar accounts for approximately 0.7% of Optimum Investment Advisors’ holdings, making the stock its 24th biggest position. Optimum Investment Advisors’ holdings in Caterpillar were worth $1,554,000 at the end of the most recent reporting period.

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

Caterpillar Stock Performance

Shares of NYSE CAT opened at $335.49 on Friday. 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 firm has a fifty day moving average price of $358.61 and a 200-day moving average price of $372.05. The stock has a market cap of $160.34 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating 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%. Equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Activity at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was purchased at an average price 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 in the company, valued at approximately $1,116,085.21. This trade represents a 3.39 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the sale, the chief financial officer now directly owns 45,182 shares in the company, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Truist Financial lowered their price objective on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. 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 report on Friday, January 31st. Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. Wedbush raised shares of Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Finally, Evercore ISI raised their price objective on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $383.80.

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.