OneAscent Wealth Management LLC Sells 130 Shares of Caterpillar Inc. (NYSE:CAT)

OneAscent Wealth Management LLC trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,770 shares of the industrial products company’s stock after selling 130 shares during the period. OneAscent Wealth Management LLC’s holdings in Caterpillar were worth $642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Allstate Corp purchased a new position in Caterpillar during the fourth quarter valued at approximately $5,221,000. Brown Brothers Harriman & Co. increased its holdings in shares of Caterpillar by 0.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 13,308 shares of the industrial products company’s stock valued at $4,828,000 after acquiring an additional 58 shares during the period. DnB Asset Management AS raised its position in shares of Caterpillar by 23.6% in the 4th quarter. DnB Asset Management AS now owns 1,536 shares of the industrial products company’s stock worth $557,000 after acquiring an additional 293 shares in the last quarter. Slagle Financial LLC lifted its stake in shares of Caterpillar by 3.9% during the 4th quarter. Slagle Financial LLC now owns 6,858 shares of the industrial products company’s stock worth $2,488,000 after purchasing an additional 260 shares during the last quarter. Finally, denkapparat Operations GmbH purchased a new position in Caterpillar in the fourth quarter valued at about $390,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE CAT opened at $329.65 on Friday. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two week high of $418.50. 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 $157.55 billion, a P/E ratio of 14.94, a PEG ratio of 1.87 and a beta of 1.15. The stock has a 50-day simple moving average of $354.99 and a two-hundred day simple moving average of $371.98.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Activity at Caterpillar

In related news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were acquired at an average cost of $365.57 per share, with a total value of $36,557.00. Following the completion of the acquisition, the director now directly owns 3,053 shares in the company, valued at approximately $1,116,085.21. This trade represents a 3.39 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated 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. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and raised their price target for the company from $355.00 to $385.00 in a report on Monday, February 3rd. Wedbush raised Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price target on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Truist Financial dropped their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.