iA Global Asset Management Inc. Has $6.83 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

iA Global Asset Management Inc. lifted its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 18,836 shares of the industrial products company's stock after buying an additional 956 shares during the quarter. iA Global Asset Management Inc.'s holdings in Caterpillar were worth $6,833,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in Caterpillar by 0.7% in the 3rd quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company's stock valued at $285,382,000 after purchasing an additional 5,371 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Caterpillar during the third quarter worth $176,000. Citizens Financial Group Inc. RI grew its stake in shares of Caterpillar by 43.0% in the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company's stock valued at $5,437,000 after acquiring an additional 4,181 shares in the last quarter. Cornerstone Advisors LLC increased its position in Caterpillar by 13.0% during the third quarter. Cornerstone Advisors LLC now owns 36,500 shares of the industrial products company's stock worth $14,276,000 after acquiring an additional 4,200 shares during the period. Finally, King Luther Capital Management Corp raised its stake in Caterpillar by 0.4% in the 3rd quarter. King Luther Capital Management Corp now owns 18,720 shares of the industrial products company's stock worth $7,322,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

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Insider Buying and Selling at Caterpillar

In related news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the acquisition, the director now directly owns 3,053 shares of the company's stock, valued at approximately $1,116,085.21. The trade was a 3.39 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares of the company's stock, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

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

Caterpillar Price Performance

CAT stock traded up $6.05 during midday trading on Monday, reaching $341.83. 2,277,144 shares of the stock were exchanged, compared to its average volume of 2,447,507. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50. The company has a fifty day moving average price of $358.19 and a 200 day moving average price of $372.36. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The stock has a market capitalization of $163.37 billion, a PE ratio of 15.49, a P/E/G ratio of 1.87 and a beta of 1.15.

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