Sei Investments Co. Reduces Position in Caterpillar Inc. (NYSE:CAT)

Sei Investments Co. lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 13.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,191 shares of the industrial products company’s stock after selling 16,458 shares during the period. Sei Investments Co.’s holdings in Caterpillar were worth $37,436,000 at the end of the most recent quarter.

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

Insider Transactions at Caterpillar

In other Caterpillar news, 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 value of $860,147.50. Following the completion of the sale, the insider now owns 6,275 shares in the company, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the transaction, 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 currently owned by company insiders.

Analysts Set New Price Targets

CAT has been the subject of a number of analyst reports. Bank of America cut their price objective on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Truist Financial decreased their price target on shares of 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 lifted their price objective on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Finally, DA Davidson boosted their price objective on Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Hold” and an average target price of $383.80.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $341.83 on Tuesday. 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 one year low of $307.05 and a one year high of $418.50. The business’s 50 day simple moving average is $358.19 and its two-hundred day simple moving average is $372.36. The stock has a market capitalization of $163.37 billion, a P/E ratio of 15.49, 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 net margin of 16.65% and a return on equity of 58.18%. Analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

About Caterpillar

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.