Perigon Wealth Management LLC lessened its stake in Caterpillar Inc. (NYSE:CAT – Get Rating) by 6.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,931 shares of the industrial products company’s stock after selling 212 shares during the quarter. Perigon Wealth Management LLC’s holdings in Caterpillar were worth $481,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. WealthPlan Investment Management LLC acquired a new position in Caterpillar in the third quarter valued at $1,648,000. American Trust purchased a new stake in shares of Caterpillar during the 3rd quarter worth about $307,000. Gould Capital LLC increased its position in Caterpillar by 1.8% during the 3rd quarter. Gould Capital LLC now owns 14,259 shares of the industrial products company’s stock worth $2,340,000 after purchasing an additional 246 shares in the last quarter. Toroso Investments LLC raised its holdings in Caterpillar by 3.5% in the third quarter. Toroso Investments LLC now owns 6,829 shares of the industrial products company’s stock valued at $1,121,000 after buying an additional 232 shares during the period. Finally, Eagle Bay Advisors LLC grew its stake in Caterpillar by 23.1% during the third quarter. Eagle Bay Advisors LLC now owns 974 shares of the industrial products company’s stock worth $160,000 after buying an additional 183 shares during the period. 68.02% of the stock is owned by hedge funds and other institutional investors.
Caterpillar Trading Down 1.7 %
Shares of NYSE CAT opened at $215.01 on Friday. The stock has a market capitalization of $111.02 billion, a P/E ratio of 17.00, a PEG ratio of 1.20 and a beta of 1.11. The stock’s 50 day moving average price is $246.19 and its two-hundred day moving average price is $222.03. The company has a quick ratio of 0.87, a current ratio of 1.39 and a debt-to-equity ratio of 1.62. Caterpillar Inc. has a 52-week low of $160.60 and a 52-week high of $266.04.
Wall Street Analysts Forecast Growth
CAT has been the topic of a number of research reports. Credit Suisse Group lifted their target price on shares of Caterpillar from $290.00 to $306.00 and gave the company an “outperform” rating in a report on Wednesday, February 1st. Bank of America raised Caterpillar from a “neutral” rating to a “buy” rating and upped their target price for the stock from $217.00 to $295.00 in a research report on Friday, January 13th. Stifel Nicolaus raised their target price on Caterpillar from $260.00 to $271.00 and gave the company a “buy” rating in a report on Monday, December 19th. Wells Fargo & Company upped their price target on Caterpillar from $228.00 to $240.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 1st. Finally, William Blair reiterated a “market perform” rating on shares of Caterpillar in a research note on Tuesday, January 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $241.00.
Insider Activity
In other Caterpillar news, Director David Maclennan bought 400 shares of the business’s stock in a transaction on Friday, February 17th. The shares were purchased at an average price of $249.29 per share, with a total value of $99,716.00. Following the completion of the acquisition, the director now directly owns 3,709 shares of the company’s stock, valued at approximately $924,616.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Denise C. Johnson sold 23,737 shares of the stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $240.14, for a total value of $5,700,203.18. Following the sale, the insider now owns 8,605 shares of the company’s stock, valued at approximately $2,066,404.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David Maclennan bought 400 shares of Caterpillar stock in a transaction on Friday, February 17th. The shares were purchased at an average cost of $249.29 per share, with a total value of $99,716.00. Following the completion of the purchase, the director now directly owns 3,709 shares in the company, valued at $924,616.61. The disclosure for this purchase can be found here. In the last three months, insiders sold 90,984 shares of company stock valued at $22,519,893. Company insiders own 0.27% of the company’s stock.
About Caterpillar
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
- Get a free copy of the StockNews.com research report on Caterpillar (CAT)
- This Small Tech With Big Growth Prospects Is Nearing A Buy Point
- Don’t Chase FedEx Higher, Wait For The Pullback
- 3 Stocks For A Defensive Tech Portfolio
- Milk the Dividends on These 3 Cash Cows
- Europe Raises Interest Rates, Should the Fed Follow?
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).
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.
