Retirement Planning Group bought a new position in shares of Caterpillar Inc. (NYSE:CAT – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 992 shares of the industrial products company’s stock, valued at approximately $238,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BCK Partners Inc. bought a new position in shares of Caterpillar in the first quarter worth approximately $2,580,000. Sei Investments Co. raised its position in shares of Caterpillar by 17.3% in the 1st quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company’s stock worth $14,634,000 after purchasing an additional 9,695 shares during the last quarter. Dakota Wealth Management purchased a new position in shares of Caterpillar in the 1st quarter worth about $405,000. Mather Group LLC. raised its position in shares of Caterpillar by 6.8% in the 1st quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company’s stock worth $577,000 after purchasing an additional 165 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in Caterpillar by 4.4% in the 1st quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company’s stock worth $11,075,000 after buying an additional 2,076 shares during the last quarter. Institutional investors own 68.02% of the company’s stock.
Insider Activity
In other Caterpillar news, General Counsel Suzette M. Long sold 8,000 shares of the firm’s 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 completion of the transaction, the general counsel now owns 8,776 shares of the company’s stock, valued at $2,203,127.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Denise C. Johnson sold 23,737 shares of the company’s stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $240.14, for a total transaction of $5,700,203.18. Following the completion of the transaction, the insider now owns 8,605 shares of the company’s stock, valued at $2,066,404.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Suzette M. Long sold 8,000 shares of Caterpillar stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $251.04, for a total transaction of $2,008,320.00. Following the completion of the transaction, the general counsel now owns 8,776 shares in the company, valued at approximately $2,203,127.04. The disclosure for this sale can be found here. Insiders have sold 90,984 shares of company stock worth $22,519,893 over the last ninety days. 0.27% of the stock is currently owned by insiders.
Caterpillar Stock Down 1.1 %
Caterpillar (NYSE:CAT – Get Rating) last released its earnings results on Tuesday, January 31st. The industrial products company reported $3.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.95 by ($0.09). Caterpillar had a return on equity of 45.61% and a net margin of 11.28%. The business had revenue of $16.60 billion for the quarter, compared to analyst estimates of $15.84 billion. During the same quarter in the previous year, the firm posted $2.69 EPS. The business’s revenue for the quarter was up 20.3% on a year-over-year basis. Sell-side analysts expect that Caterpillar Inc. will post 15.67 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the company. Cowen boosted their price target on Caterpillar from $240.00 to $264.00 and gave the company an “outperform” rating in a research note on Friday, December 9th. Morgan Stanley upped their price objective on Caterpillar from $174.00 to $190.00 and gave the stock an “underweight” rating in a report on Wednesday, December 14th. William Blair restated a “market perform” rating on shares of Caterpillar in a report on Tuesday, January 31st. Barclays upped their price objective on Caterpillar from $200.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 1st. Finally, Bank of America raised Caterpillar from a “neutral” rating to a “buy” rating and increased their price target for the stock from $217.00 to $295.00 in a research report on Friday, January 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $241.00.
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.
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