Caterpillar Inc. (NYSE:CAT) Shares Purchased by Summit Financial LLC

Summit Financial LLC boosted its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,737 shares of the industrial products company's stock after purchasing an additional 853 shares during the quarter. Summit Financial LLC's holdings in Caterpillar were worth $13,689,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CAT. Flagship Wealth Advisors LLC purchased a new stake in shares of Caterpillar in the 4th quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Caterpillar in the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new stake in shares of Caterpillar in the fourth quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at $34,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In related news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction dated 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 transaction, the director now directly owns 3,053 shares of the company's stock, valued at $1,116,085.21. The trade was a 3.39 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated 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. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

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Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CAT shares. Bank of America decreased their price target on shares of Caterpillar from $452.00 to $414.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Evercore ISI raised their price target on Caterpillar from $365.00 to $375.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. Morgan Stanley reduced their price objective on Caterpillar from $330.00 to $300.00 and set an "underweight" rating for the company in a research note on Friday, January 31st. Jefferies Financial Group lifted their target price on Caterpillar from $455.00 to $475.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Finally, Truist Financial cut their price target on Caterpillar from $455.00 to $438.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Caterpillar has an average rating of "Hold" and an average price target of $383.80.

Caterpillar Price Performance

CAT traded down $28.91 on Thursday, hitting $305.75. 4,627,446 shares of the company were exchanged, compared to its average volume of 2,547,309. The business's fifty day moving average is $351.26 and its 200 day moving average is $372.07. Caterpillar Inc. has a fifty-two week low of $305.10 and a fifty-two week high of $418.50. 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 capitalization of $146.13 billion, a P/E ratio of 13.85, a price-to-earnings-growth 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 analysts' consensus estimates 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, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current 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.