Caterpillar Inc. (NYSE:CAT) Shares Acquired by Hoey Investments Inc.

Hoey Investments Inc. grew its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 143.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,193 shares of the industrial products company's stock after acquiring an additional 1,291 shares during the quarter. Hoey Investments Inc.'s holdings in Caterpillar were worth $796,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in shares of Caterpillar during the 4th quarter valued at approximately $2,184,364,000. Raymond James Financial Inc. bought a new position in Caterpillar in the 4th quarter valued at $353,231,000. Proficio Capital Partners LLC grew its holdings in shares of Caterpillar by 50,072.7% in the fourth quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company's stock worth $291,938,000 after purchasing an additional 803,166 shares during the last quarter. Amundi increased its stake in Caterpillar by 17.3% in the 4th quarter. Amundi now owns 2,166,087 shares of the industrial products company's stock worth $782,109,000 after buying an additional 318,891 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Caterpillar by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company's stock valued at $16,980,629,000 after acquiring an additional 284,366 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CAT has been the topic of a number of recent research reports. Citigroup increased their price target on Caterpillar from $420.00 to $430.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Raymond James raised shares of Caterpillar from a "market perform" rating to an "outperform" rating in a research report on Monday, February 3rd. Truist Financial reduced their price objective on shares of Caterpillar from $455.00 to $438.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Bank of America dropped their target price on Caterpillar from $452.00 to $414.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Finally, Evercore ISI boosted their price target on Caterpillar from $365.00 to $375.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $383.80.

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Insiders Place Their Bets

In related news, insider Jason Kaiser sold 2,425 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the transaction, the insider now directly owns 6,275 shares in the company, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated Tuesday, February 4th. The stock was bought at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the purchase, the director now directly owns 3,053 shares in the company, valued at approximately $1,116,085.21. This trade represents a 3.39 % increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by company insiders.

Caterpillar Stock Performance

Shares of CAT traded down $29.00 during mid-day trading on Thursday, reaching $305.66. The company had a trading volume of 3,537,493 shares, compared to its average volume of 2,544,321. The stock has a market capitalization of $146.09 billion, a P/E ratio of 13.87, a PEG ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a 52-week low of $305.10 and a 52-week high of $418.50. The stock has a 50 day moving average of $351.26 and a two-hundred day moving average of $372.07. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40.

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