South Street Advisors LLC Sells 600 Shares of Caterpillar Inc. (NYSE:CAT)

South Street Advisors LLC trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 41.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 840 shares of the industrial products company’s stock after selling 600 shares during the quarter. South Street Advisors LLC’s holdings in Caterpillar were worth $305,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Mystic Asset Management Inc. lifted its position in shares of Caterpillar by 2.8% during the fourth quarter. Mystic Asset Management Inc. now owns 10,605 shares of the industrial products company’s stock valued at $3,847,000 after purchasing an additional 290 shares in the last quarter. RD Lewis Holdings Inc. bought a new position in shares of Caterpillar during the fourth quarter valued at about $1,894,000. BlackDiamond Wealth Management LLC bought a new position in shares of Caterpillar during the fourth quarter valued at about $200,000. Axxcess Wealth Management LLC lifted its position in shares of Caterpillar by 2.7% during the fourth quarter. Axxcess Wealth Management LLC now owns 20,706 shares of the industrial products company’s stock valued at $7,511,000 after purchasing an additional 549 shares in the last quarter. Finally, Flagship Wealth Advisors LLC bought a new position in shares of Caterpillar during the fourth quarter valued at about $26,000. 70.98% of the stock is owned by institutional investors.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $342.66 on Tuesday. The company has a 50 day moving average of $360.39 and a 200 day moving average of $372.60. The stock has a market cap of $163.77 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data 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%. As a group, sell-side analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Activity at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’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 value of $3,800,900.00. Following the completion of the transaction, the chief financial officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the transaction, the insider now directly owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Raymond James raised shares of Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. Bank of America lowered their price objective on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Wedbush raised shares of Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Morgan Stanley lowered their price objective on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Finally, DA Davidson lifted their price objective on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $383.80.

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.