Summit Financial LLC Boosts Position in Caterpillar Inc. (NYSE:CAT)

Summit Financial LLC lifted its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 2.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 37,737 shares of the industrial products company's stock after acquiring an additional 853 shares during the quarter. Summit Financial LLC's holdings in Caterpillar were worth $13,689,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business's 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 completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $860,147.50. Following the sale, the insider now directly owns 6,275 shares in the company, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company's stock.

Caterpillar Stock Down 4.6 %

CAT traded down $14.02 during midday trading on Friday, reaching $291.74. The company's stock had a trading volume of 3,281,273 shares, compared to its average volume of 2,542,694. The stock's 50-day moving average is $349.24 and its 200-day moving average is $371.61. Caterpillar Inc. has a 1 year low of $281.50 and a 1 year high of $418.50. The firm has a market capitalization of $139.43 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 1.87 and a beta of 1.15. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS 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, research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Analyst Upgrades and Downgrades

CAT has been the subject of a number of analyst reports. Truist Financial cut their price objective on shares of Caterpillar from $455.00 to $438.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Citigroup upped their target price on Caterpillar from $420.00 to $430.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Evercore ISI raised their target price on shares of Caterpillar from $365.00 to $375.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. Jefferies Financial Group lifted their target price on shares of Caterpillar from $455.00 to $475.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Finally, DA Davidson raised their price objective on shares of Caterpillar from $350.00 to $357.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Caterpillar currently has a consensus rating of "Hold" and a consensus target price of $383.80.

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.