Nikko Asset Management Americas Inc. Cuts Position in Caterpillar Inc. (NYSE:CAT)

Nikko Asset Management Americas Inc. lessened its stake in Caterpillar Inc. (NYSE:CAT) by 10.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 12,336 shares of the industrial products company’s stock after selling 1,404 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Caterpillar were worth $4,475,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Flagship Wealth Advisors LLC acquired a new stake in Caterpillar in the 4th quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Caterpillar in the 4th quarter valued at about $27,000. Noble Wealth Management PBC acquired a new stake in Caterpillar in the 4th quarter valued at about $31,000. Retirement Wealth Solutions LLC acquired a new stake in Caterpillar in the 4th quarter valued at about $34,000. Finally, Whipplewood Advisors LLC acquired a new stake in Caterpillar in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity

In other news, insider Jason Kaiser sold 2,425 shares of the firm’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 transaction of $860,147.50. Following the completion of the sale, the insider now owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 stock was 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. The trade was a 18.12 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Caterpillar Trading Up 2.1 %

NYSE CAT opened at $340.46 on Monday. Caterpillar Inc. has a one year low of $307.05 and a one year high of $418.50. The company’s 50 day moving average price is $360.81 and its 200 day moving average price is $372.66. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The firm has a market capitalization of $162.72 billion, a price-to-earnings ratio of 15.43, a PEG 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 the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. On average, sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Analysts Set New Price Targets

CAT has been the topic of a number of research reports. Citigroup increased their price objective 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. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and raised their price target for the stock from $355.00 to $385.00 in a research note on Monday, February 3rd. Evercore ISI raised their price target on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Morgan Stanley decreased their price target on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Finally, 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 research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Caterpillar currently has a consensus rating of “Hold” and an average target price of $383.80.

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.