Primecap Management Co. CA Reduces Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Primecap Management Co. CA decreased its holdings in Caterpillar Inc. (NYSE:CAT) by 4.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,424,446 shares of the industrial products company’s stock after selling 61,010 shares during the period. Primecap Management Co. CA’s holdings in Caterpillar were worth $516,732,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in Caterpillar by 0.7% during the third quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock valued at $3,987,206,000 after buying an additional 67,148 shares during the period. Fisher Asset Management LLC lifted its position in Caterpillar by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company’s stock valued at $3,294,505,000 after buying an additional 129,143 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Caterpillar by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock valued at $1,418,793,000 after buying an additional 64,452 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Caterpillar by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,289,101 shares of the industrial products company’s stock valued at $1,193,154,000 after buying an additional 61,723 shares during the period. Finally, Amundi lifted its position in Caterpillar by 17.3% during the fourth quarter. Amundi now owns 2,166,087 shares of the industrial products company’s stock valued at $782,109,000 after buying an additional 318,891 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 0.9 %

Shares of NYSE:CAT opened at $342.66 on Tuesday. The stock has a 50 day moving average of $360.39 and a 200 day moving average of $372.60. The company has a market cap of $163.77 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 12-month low of $307.05 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (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%. As a group, equities research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wedbush raised Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lowered their price target on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. Jefferies Financial Group lifted their price target on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Truist Financial lowered their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Caterpillar has an average rating of “Hold” and an average price target of $383.80.

Insider Activity at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’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 value of $3,800,900.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the company’s 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 transaction, the insider now owns 6,275 shares of the company’s stock, valued at $2,225,742.50. The trade was a 27.87 % 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 corporate insiders.

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.