Manning & Napier Group LLC Has $41.46 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Manning & Napier Group LLC lessened its stake in Caterpillar Inc. (NYSE:CAT) by 14.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 140,213 shares of the industrial products company’s stock after selling 23,674 shares during the quarter. Manning & Napier Group LLC’s holdings in Caterpillar were worth $41,457,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Teamwork Financial Advisors LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at $5,549,000. Zullo Investment Group Inc. increased its position in Caterpillar by 6.9% in the 4th quarter. Zullo Investment Group Inc. now owns 1,840 shares of the industrial products company’s stock valued at $544,000 after acquiring an additional 118 shares in the last quarter. Compton Wealth Advisory Group LLC boosted its stake in shares of Caterpillar by 353.0% in the 4th quarter. Compton Wealth Advisory Group LLC now owns 6,274 shares of the industrial products company’s stock valued at $1,855,000 after purchasing an additional 4,889 shares during the last quarter. Occidental Asset Management LLC boosted its stake in shares of Caterpillar by 15.3% in the 4th quarter. Occidental Asset Management LLC now owns 8,874 shares of the industrial products company’s stock valued at $2,624,000 after purchasing an additional 1,175 shares during the last quarter. Finally, Symphony Financial Ltd. Co. boosted its stake in shares of Caterpillar by 44.5% in the 4th quarter. Symphony Financial Ltd. Co. now owns 5,776 shares of the industrial products company’s stock valued at $1,669,000 after purchasing an additional 1,780 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the transaction, the chief financial officer now directly owns 57,317 shares of the company’s stock, valued at approximately $17,774,001.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the completion of the transaction, the chief financial officer now owns 57,317 shares in the company, valued at $17,774,001.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the completion of the sale, the insider now directly owns 61,092 shares in the company, valued at $19,886,667.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,769 shares of company stock valued at $14,509,306. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 0.5 %

Shares of Caterpillar stock traded up $1.78 on Friday, reaching $366.43. 2,028,629 shares of the company’s stock were exchanged, compared to its average volume of 2,158,563. The firm’s 50-day moving average is $328.78 and its two-hundred day moving average is $288.33. Caterpillar Inc. has a 52 week low of $204.04 and a 52 week high of $367.22. The company has a market capitalization of $183.00 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 1.74 and a beta of 1.16. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 1.35.

Caterpillar (NYSE:CAT) last issued its earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, topping the consensus estimate of $4.76 by $0.47. The business had revenue of $17.07 billion during the quarter, compared to the consensus estimate of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.86 EPS. Sell-side analysts predict that Caterpillar Inc. will post 21.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CAT. JPMorgan Chase & Co. lifted their price objective on shares of Caterpillar from $345.00 to $385.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Citigroup lifted their price objective on shares of Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Morgan Stanley began coverage on shares of Caterpillar in a report on Monday, January 8th. They issued an “equal weight” rating and a $270.00 price objective on the stock. TD Cowen boosted their target price on shares of Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Finally, Truist Financial began coverage on shares of Caterpillar in a report on Thursday, March 14th. They set a “buy” rating and a $390.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $297.89.

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.