Clearstead Advisors LLC Boosts Stake in Caterpillar Inc. (NYSE:CAT)

Posted by on Mar 15th, 2023

Clearstead Advisors LLC raised its position in Caterpillar Inc. (NYSE:CAT – Get Rating) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,664 shares of the industrial products company’s stock after buying an additional 53 shares during the period. Clearstead Advisors LLC’s holdings in Caterpillar were worth $437,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Morgan Dempsey Capital Management LLC purchased a new stake in shares of Caterpillar during the 3rd quarter worth approximately $33,000. Cowa LLC purchased a new stake in shares of Caterpillar during the 3rd quarter worth approximately $33,000. Alpha Paradigm Partners LLC purchased a new stake in shares of Caterpillar during the 2nd quarter worth approximately $40,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Caterpillar during the 3rd quarter worth approximately $49,000. Finally, Heritage Wealth Management LLC purchased a new stake in shares of Caterpillar during the 2nd quarter worth approximately $62,000. Hedge funds and other institutional investors own 68.02% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the subject of several research analyst reports. Barclays raised their price target on shares of Caterpillar from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 1st. Stifel Nicolaus raised their price objective on shares of Caterpillar from $260.00 to $271.00 and gave the stock a “buy” rating in a report on Monday, December 19th. Citigroup raised their price objective on shares of Caterpillar to $250.00 in a report on Wednesday, December 14th. Cowen raised their price objective on shares of Caterpillar from $240.00 to $264.00 in a report on Friday, December 9th. Finally, Wells Fargo & Company raised their price objective on shares of Caterpillar from $228.00 to $240.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Caterpillar presently has a consensus rating of “Hold” and an average target price of $241.00.

Insider Transactions at Caterpillar

In other news, insider Cheryl H. Johnson sold 23,883 shares of Caterpillar stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $250.44, for a total transaction of $5,981,258.52. Following the completion of the sale, the insider now directly owns 13,857 shares of the company’s stock, valued at approximately $3,470,347.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Cheryl H. Johnson sold 23,883 shares of Caterpillar stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $250.44, for a total transaction of $5,981,258.52. Following the completion of the sale, the insider now directly owns 13,857 shares of the company’s stock, valued at approximately $3,470,347.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Suzette M. Long sold 8,000 shares of Caterpillar stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $251.04, for a total transaction of $2,008,320.00. Following the sale, the general counsel now directly owns 8,776 shares of the company’s stock, valued at $2,203,127.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,984 shares of company stock valued at $22,519,893. Insiders own 0.27% of the company’s stock.

Caterpillar Stock Up 0.4 %

Shares of NYSE:CAT opened at $225.67 on Wednesday. The firm has a fifty day moving average price of $247.78 and a two-hundred day moving average price of $221.93. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.39 and a quick ratio of 0.87. Caterpillar Inc. has a one year low of $160.60 and a one year high of $266.04. The company has a market cap of $116.52 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 1.21 and a beta of 1.11.

Caterpillar (NYSE:CAT – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The industrial products company reported $3.86 EPS for the quarter, missing the consensus estimate of $3.95 by ($0.09). Caterpillar had a net margin of 11.28% and a return on equity of 45.61%. The firm had revenue of $16.60 billion during the quarter, compared to the consensus estimate of $15.84 billion. During the same period in the previous year, the business earned $2.69 earnings per share. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. Analysts anticipate that Caterpillar Inc. will post 15.67 EPS for the current fiscal year.

Caterpillar Profile

(Get Rating)

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

Featured Articles

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT – Get Rating).

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.