Vestcor Inc Sells 940 Shares of Caterpillar Inc. (NYSE:CAT)

Vestcor Inc cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 5.0% during the 4th quarter, Holdings Channel reports. The firm owned 17,768 shares of the industrial products company’s stock after selling 940 shares during the quarter. Vestcor Inc’s holdings in Caterpillar were worth $6,446,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC purchased a new position in Caterpillar during the fourth quarter worth about $27,000. Noble Wealth Management PBC purchased a new position in Caterpillar during the fourth quarter worth about $31,000. Retirement Wealth Solutions LLC purchased a new position in Caterpillar during the fourth quarter worth about $34,000. Albion Financial Group UT boosted its holdings in Caterpillar by 334.8% during the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 77 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in Caterpillar during the fourth quarter worth about $36,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of research analyst reports. Citigroup boosted their target price on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Bank of America dropped their target price on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Wedbush upgraded shares of Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. DA Davidson boosted their target price on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $383.80.

Insider Buying and Selling

In related news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were purchased at an average price of $365.57 per share, with a total value of $36,557.00. Following the acquisition, the director now directly owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the stock in a transaction 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 transaction, the insider now directly owns 6,275 shares in the company, 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 currently owned by insiders.

Caterpillar Stock Performance

Caterpillar stock opened at $338.50 on Thursday. The firm’s 50 day simple moving average is $361.80 and its 200 day simple moving average is $372.69. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $161.78 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a 1-year low of $307.05 and a 1-year high of $418.50.

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

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.