Norges Bank Invests $2.18 Billion in Caterpillar Inc. (NYSE:CAT)

Norges Bank bought a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,021,512 shares of the industrial products company's stock, valued at approximately $2,184,364,000. Norges Bank owned approximately 1.25% of Caterpillar as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CAT. Jefferies Financial Group upped their price objective on Caterpillar from $455.00 to $475.00 and gave the company a "buy" rating in a research report on Friday, December 6th. JPMorgan Chase & Co. reduced their target price on shares of Caterpillar from $515.00 to $490.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Citigroup lifted their price target on shares of Caterpillar from $420.00 to $430.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Wedbush upgraded shares of Caterpillar to an "outperform" rating in a research report on Monday, February 3rd. Finally, Morgan Stanley cut their price target on Caterpillar from $330.00 to $300.00 and set an "underweight" rating for the company in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $383.80.

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Insider Transactions at Caterpillar

In other news, Director Gerald Johnson purchased 100 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were purchased at an average price of $365.57 per share, with a total value of $36,557.00. Following the purchase, the director now directly owns 3,053 shares of the company's stock, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business's stock in a transaction 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company's stock.

Caterpillar Trading Down 0.2 %

Shares of NYSE:CAT traded down $0.68 during trading on Monday, reaching $329.01. 856,264 shares of the stock were exchanged, compared to its average volume of 2,532,125. Caterpillar Inc. has a 12-month low of $307.05 and a 12-month high of $418.50. The firm's 50-day moving average price is $354.99 and its 200 day moving average price is $372.50. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The firm has a market cap of $157.24 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating 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, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

About Caterpillar

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.