Perennial Investment Advisors LLC Acquires 99 Shares of Caterpillar Inc. (NYSE:CAT)

Perennial Investment Advisors LLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 9.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,152 shares of the industrial products company’s stock after buying an additional 99 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Caterpillar were worth $418,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

CAT has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Morgan Stanley cut their price objective on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Bank of America decreased their price objective on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Truist Financial reduced their target price 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. Finally, UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and upped their price objective for the company from $355.00 to $385.00 in a research note on Monday, February 3rd. Two investment 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. According to MarketBeat, Caterpillar has an average rating of “Hold” and a consensus target price of $383.80.

Insider Buying and Selling at Caterpillar

In other news, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the transaction, the insider now owns 6,275 shares in the company, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’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 transaction of $3,800,900.00. Following the sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Caterpillar Stock Down 5.9 %

NYSE:CAT opened at $287.57 on Friday. Caterpillar Inc. has a 1-year low of $281.50 and a 1-year high of $418.50. The company has a market capitalization of $137.44 billion, a PE ratio of 13.03, a P/E/G ratio of 1.87 and a beta of 1.21. The firm’s 50-day moving average price is $346.83 and its 200-day moving average price is $371.31. 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 (NYSE:CAT) last announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share 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%. On average, equities analysts predict that Caterpillar Inc. will post 19.86 EPS 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.