Caterpillar Inc. (NYSE:CAT) Stake Boosted by AXQ Capital LP

AXQ Capital LP raised its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 211.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,501 shares of the industrial products company's stock after acquiring an additional 4,412 shares during the period. Caterpillar comprises approximately 1.1% of AXQ Capital LP's investment portfolio, making the stock its 2nd largest holding. AXQ Capital LP's holdings in Caterpillar were worth $2,358,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new position in shares of Caterpillar in the 4th quarter worth about $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in Caterpillar during the 4th quarter valued at $27,000. Cyrus J. Lawrence LLC purchased a new stake in Caterpillar during the 4th quarter worth about $27,000. Noble Wealth Management PBC bought a new stake in shares of Caterpillar during the fourth quarter valued at about $31,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Caterpillar in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. DA Davidson upped their target price on shares of Caterpillar from $350.00 to $357.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Truist Financial lowered their price objective on Caterpillar from $455.00 to $438.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. Morgan Stanley reduced their target price on Caterpillar from $330.00 to $300.00 and set an "underweight" rating for the company in a research report on Friday, January 31st. Jefferies Financial Group raised their price target on Caterpillar from $455.00 to $475.00 and gave the company a "buy" rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. cut their price objective on Caterpillar from $515.00 to $490.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Two 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 MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $383.80.

Remove Ads

Insider Buying and Selling at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares of the company's stock, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the transaction, the insider now owns 6,275 shares of the company's stock, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Caterpillar Stock Up 0.6 %

Shares of CAT stock traded up $1.91 during mid-day trading on Tuesday, reaching $343.58. 580,973 shares of the company's stock traded hands, compared to its average volume of 2,447,507. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The company's 50-day moving average price is $358.19 and its 200-day moving average price is $372.36. The company has a market cap of $164.21 billion, a P/E ratio of 15.57, a P/E/G ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50.

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

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.