Parallel Advisors LLC Purchases 791 Shares of Caterpillar Inc. (NYSE:CAT)

Parallel Advisors LLC raised its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,096 shares of the industrial products company's stock after purchasing an additional 791 shares during the period. Parallel Advisors LLC's holdings in Caterpillar were worth $3,663,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Cibc World Markets Corp raised its stake in Caterpillar by 3.3% during the fourth quarter. Cibc World Markets Corp now owns 217,681 shares of the industrial products company's stock valued at $78,966,000 after buying an additional 6,984 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position in shares of Caterpillar by 3.4% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 11,620 shares of the industrial products company's stock worth $4,215,000 after purchasing an additional 384 shares during the last quarter. IMG Wealth Management Inc. purchased a new stake in Caterpillar during the 4th quarter valued at about $173,000. SlateStone Wealth LLC increased its stake in Caterpillar by 2.4% during the 4th quarter. SlateStone Wealth LLC now owns 40,267 shares of the industrial products company's stock valued at $14,607,000 after purchasing an additional 931 shares in the last quarter. Finally, GWN Securities Inc. bought a new position in shares of Caterpillar in the fourth quarter worth approximately $1,036,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Price Performance

CAT stock traded down $0.76 during midday trading on Friday, hitting $335.49. The company's stock had a trading volume of 6,752,325 shares, compared to its average volume of 2,580,098. 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 Inc. has a 12 month low of $307.05 and a 12 month high of $418.50. The company has a 50 day moving average of $358.92 and a two-hundred day moving average of $371.98. The firm has a market capitalization of $160.34 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15.

Remove Ads

Caterpillar (NYSE:CAT - Get Free Report) last posted its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share 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 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CAT shares. UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $355.00 to $385.00 in a report on Monday, February 3rd. Bank of America lowered their price target on Caterpillar from $452.00 to $414.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Citigroup lifted their price objective on Caterpillar from $420.00 to $430.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Evercore ISI raised their price target on shares of Caterpillar from $365.00 to $375.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Finally, Wedbush raised shares of Caterpillar to an "outperform" rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Caterpillar presently has a consensus rating of "Hold" and an average target price of $383.80.

Insider Activity at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar 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 transaction, the chief financial officer now directly owns 45,182 shares of the company's stock, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gerald Johnson bought 100 shares of the firm'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 completion of the transaction, the director now directly owns 3,053 shares in the company, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

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.