Generali Asset Management SPA SGR trimmed its position in Caterpillar during the third quarter, selling 1,306 shares to end the period with 42,889 shares held. At quarter’s end, the firm’s holdings were valued at $20.46 million, representing a 3.0% reduction in its exposure to the industrial equipment manufacturer compared to the prior quarter.

Several large investors adjusted their Caterpillar holdings in recent quarters. Norges Bank initiated a new position in the second quarter valued at $2.17 billion. Groupe la Francaise increased its stake by 82.0%, adding 12,278 shares to reach 27,246 shares valued at $10.82 million. Trivium Point Advisory LLC more than doubled its exposure with a 132.9% increase, acquiring 1,099 additional shares to hold 1,926 shares valued at $748,000. Union Bancaire Privee UBP SA expanded its third-quarter position by 155.9% to 47,231 shares worth $21.01 million, while Mirae Asset Global ETFS boosted its first-quarter holding by 9.9% to 78,947 shares valued at $26.04 million. Institutional and hedge fund ownership now stands at 70.98%.

In early November, insider Lange Bob De sold 14,638 shares for proceeds totaling $8.23 million, reducing his ownership by 15.43% to 80,209 shares valued at $45.11 million. On November 6, Director David Maclennan purchased 300 shares for $170,658, increasing his stake by 3.92% to 7,947 shares worth $4.52 million. Company insiders have sold a net 61,895 shares worth $34.01 million over the past 90 days and collectively own 0.33% of the firm’s outstanding stock.

Equity research firms have been bullish, with Jefferies raising its target to $700 and maintaining a buy recommendation, Argus boosting its target to $625 with a buy rating, and Oppenheimer and Robert W. Baird lifting targets to $645 and $680 respectively, both with outperform ratings. Weiss Ratings reaffirmed its buy (b) rating. Of 24 analysts, three rate the stock as Strong Buy, fifteen as Buy, five as Hold and one as Sell, resulting in a consensus Moderate Buy rating.