Fort Point Capital Partners LLC Lowers Stock Holdings in Caterpillar Inc. $CAT

Fort Point Capital Partners LLC lessened its position in Caterpillar Inc. (NYSE:CAT) by 38.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,875 shares of the industrial products company’s stock after selling 2,400 shares during the quarter. Fort Point Capital Partners LLC’s holdings in Caterpillar were worth $1,849,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CAT. WealthShield Partners LLC increased its stake in Caterpillar by 1.6% during the third quarter. WealthShield Partners LLC now owns 1,122 shares of the industrial products company’s stock worth $535,000 after purchasing an additional 18 shares during the period. one8zero8 LLC boosted its stake in shares of Caterpillar by 3.2% in the third quarter. one8zero8 LLC now owns 619 shares of the industrial products company’s stock valued at $295,000 after purchasing an additional 19 shares during the period. Abacus Planning Group Inc. grew its holdings in shares of Caterpillar by 0.6% in the third quarter. Abacus Planning Group Inc. now owns 3,214 shares of the industrial products company’s stock valued at $1,534,000 after purchasing an additional 20 shares in the last quarter. Cyr Financial Inc. increased its stake in Caterpillar by 2.5% during the 3rd quarter. Cyr Financial Inc. now owns 811 shares of the industrial products company’s stock worth $387,000 after buying an additional 20 shares during the period. Finally, Perennial Investment Advisors LLC increased its stake in Caterpillar by 1.2% during the 3rd quarter. Perennial Investment Advisors LLC now owns 1,719 shares of the industrial products company’s stock worth $821,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insiders Place Their Bets

In other news, insider Denise C. Johnson sold 39,138 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $681.08, for a total value of $26,656,109.04. Following the transaction, the insider owned 43,350 shares in the company, valued at approximately $29,524,818. This represents a 47.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joseph E. Creed sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $718.93, for a total value of $1,797,325.00. Following the sale, the chief executive officer owned 35,083 shares of the company’s stock, valued at approximately $25,222,221.19. The trade was a 6.65% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 135,950 shares of company stock worth $94,327,990. 0.33% of the stock is currently owned by company insiders.

Caterpillar Price Performance

Caterpillar stock opened at $693.89 on Monday. The company has a current ratio of 1.44, a quick ratio of 0.94 and a debt-to-equity ratio of 1.44. The company has a fifty day simple moving average of $693.92 and a 200-day simple moving average of $586.07. The stock has a market cap of $322.86 billion, a P/E ratio of 36.87, a price-to-earnings-growth ratio of 1.64 and a beta of 1.53. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $789.81.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 29th. The industrial products company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.67 by $0.49. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.The firm had revenue of $19.13 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the prior year, the company posted $5.14 earnings per share. Caterpillar’s revenue for the quarter was up 17.9% compared to the same quarter last year. Equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Analyst Ratings Changes

CAT has been the subject of several recent research reports. Oppenheimer raised their price target on shares of Caterpillar from $729.00 to $817.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Caterpillar in a research note on Monday, December 29th. Royal Bank Of Canada lifted their target price on Caterpillar from $587.00 to $658.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Morgan Stanley upped their price target on Caterpillar from $400.00 to $425.00 and gave the stock an “underweight” rating in a report on Tuesday, February 3rd. Finally, Truist Financial increased their price target on Caterpillar from $729.00 to $786.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Sixteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $730.50.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.