OVERSEA CHINESE BANKING Corp Ltd Grows Position in Caterpillar Inc. (NYSE:CAT)

OVERSEA CHINESE BANKING Corp Ltd raised its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 198.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,803 shares of the industrial products company's stock after purchasing an additional 3,192 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Caterpillar were worth $1,747,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Nordea Investment Management AB grew its stake in Caterpillar by 1.6% during the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company's stock valued at $231,686,000 after acquiring an additional 10,212 shares in the last quarter. West Wealth Group LLC acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $230,000. Citizens Financial Group Inc. RI grew its position 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 purchasing an additional 4,181 shares in the last quarter. Cadinha & Co. LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at approximately $11,084,000. Finally, Atomi Financial Group Inc. lifted its position in Caterpillar by 3.9% during the fourth quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company's stock worth $8,414,000 after buying an additional 871 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

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Insider Activity

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the acquisition, the director now owns 3,053 shares in the company, valued at $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 can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business'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 value of $3,800,900.00. Following the sale, 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. Company insiders own 0.29% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on CAT shares. StockNews.com downgraded Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. Citigroup boosted their target price on shares of Caterpillar from $420.00 to $430.00 and gave the company a "buy" rating in a report on Friday, January 31st. Morgan Stanley reduced their price target on shares of Caterpillar from $330.00 to $300.00 and set an "underweight" rating on the stock in a research report on Friday, January 31st. Finally, Raymond James upgraded 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 given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $383.80.

Caterpillar Stock Up 1.8 %

Shares of NYSE CAT traded up $6.05 during mid-day trading on Monday, hitting $341.83. The company had a trading volume of 2,277,144 shares, compared to its average volume of 2,448,054. Caterpillar Inc. has a 1-year low of $307.05 and a 1-year high of $418.50. The company has a market capitalization of $163.37 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. 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 business's 50-day simple moving average is $358.61 and its 200 day simple moving average is $372.30.

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 (EPS) for the quarter, beating 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%. On average, analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar 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.