State of Alaska Department of Revenue Sells 4,500 Shares of Caterpillar Inc. (NYSE:CAT)

State of Alaska Department of Revenue lowered its stake in Caterpillar Inc. (NYSE:CAT) by 6.6% during the fourth quarter, Holdings Channel reports. The firm owned 63,216 shares of the industrial products company’s stock after selling 4,500 shares during the period. State of Alaska Department of Revenue’s holdings in Caterpillar were worth $18,690,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CAT. Moneta Group Investment Advisors LLC increased its position in shares of Caterpillar by 130,632.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,784,017 shares of the industrial products company’s stock worth $2,343,859,000 after purchasing an additional 9,776,533 shares during the period. Norges Bank bought a new position in Caterpillar in the fourth quarter valued at about $1,175,255,000. Ontario Teachers Pension Plan Board bought a new position in Caterpillar in the first quarter valued at about $433,134,000. Imprint Wealth LLC grew its position in Caterpillar by 24,982.9% in the second quarter. Imprint Wealth LLC now owns 1,538,084 shares of the industrial products company’s stock valued at $153,808,000 after acquiring an additional 1,531,952 shares during the last quarter. Finally, Winslow Capital Management LLC grew its position in Caterpillar by 2,265.3% in the third quarter. Winslow Capital Management LLC now owns 1,117,830 shares of the industrial products company’s stock valued at $305,168,000 after acquiring an additional 1,070,570 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction 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 sale, 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 Securities & Exchange Commission, which is available at this link. In other Caterpillar news, insider Lange Bob De sold 21,194 shares of the business’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 transaction, the insider now owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total value of $3,101,000.00. Following the completion of the transaction, the chief financial officer now directly owns 57,317 shares in the company, valued at approximately $17,774,001.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,769 shares of company stock worth $14,509,306. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Up 0.5 %

Shares of NYSE CAT traded up $1.78 during midday trading on Friday, hitting $366.43. 2,028,629 shares of the stock traded hands, compared to its average volume of 2,158,563. The company has a market cap of $183.00 billion, a PE ratio of 18.19, a P/E/G ratio of 1.74 and a beta of 1.16. Caterpillar Inc. has a one year low of $204.04 and a one year high of $367.22. The business has a 50 day moving average price of $328.78 and a two-hundred day moving average price of $288.33. 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 released its quarterly earnings data on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, beating the consensus estimate of $4.76 by $0.47. The firm 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 company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.86 earnings per share. On average, equities analysts predict that Caterpillar Inc. will post 21.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CAT shares. The Goldman Sachs Group lifted their target price on Caterpillar from $274.00 to $357.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. JPMorgan Chase & Co. lifted their price target on Caterpillar from $345.00 to $385.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Citigroup lifted their price target on Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Stifel Nicolaus lifted their price target on Caterpillar from $285.00 to $293.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. Finally, Morgan Stanley began coverage on Caterpillar in a research note on Monday, January 8th. They set an “equal weight” rating and a $270.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $297.89.

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.