Modern Wealth Management LLC lifted its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 12.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,935 shares of the industrial products company's stock after acquiring an additional 1,087 shares during the quarter. Modern Wealth Management LLC's holdings in Caterpillar were worth $3,608,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Flagship Wealth Advisors LLC bought a new stake in shares of Caterpillar during the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Caterpillar during the fourth quarter worth $27,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Caterpillar during the fourth quarter valued at $27,000. Noble Wealth Management PBC bought a new position in shares of Caterpillar in the fourth quarter worth about $31,000. Finally, Retirement Wealth Solutions LLC purchased a new position in Caterpillar in the 4th quarter worth about $34,000. 70.98% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on CAT. StockNews.com lowered Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Wedbush raised shares of Caterpillar to an "outperform" rating in a report on Monday, February 3rd. UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and upped their price objective for the company from $355.00 to $385.00 in a report on Monday, February 3rd. Evercore ISI boosted their target price on shares of Caterpillar from $365.00 to $375.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. Finally, Raymond James raised Caterpillar from a "market perform" rating to an "outperform" rating in a research report on Monday, February 3rd. 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 data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $383.80.
Check Out Our Latest Stock Report on CAT
Insider Transactions at Caterpillar
In related news, insider Jason Kaiser sold 2,425 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the sale, the insider now owns 6,275 shares in the company, valued at $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.29% of the company's stock.
Caterpillar Stock Down 2.8 %
Shares of NYSE:CAT traded down $9.65 during trading on Friday, hitting $329.65. The company's stock had a trading volume of 1,965,220 shares, compared to its average volume of 2,538,598. The business has a 50 day moving average price of $354.99 and a two-hundred day moving average price of $372.24. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two week high of $418.50. The company has a market capitalization of $157.55 billion, a PE ratio of 14.94, 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 data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) 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, research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.
Caterpillar Company Profile
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Free Report)
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.
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