United Bank Makes New Investment in Caterpillar Inc. (NYSE:CAT)

United Bank purchased a new position in Caterpillar Inc. (NYSE:CAT - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,942 shares of the industrial products company's stock, valued at approximately $704,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CAT. FSM Wealth Advisors LLC raised its position in shares of Caterpillar by 3.8% in the fourth quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company's stock valued at $262,000 after purchasing an additional 25 shares during the period. Allen Capital Group LLC grew its stake in Caterpillar by 0.6% in the 4th quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company's stock valued at $1,541,000 after buying an additional 26 shares during the last quarter. Wagner Wealth Management LLC raised its holdings in Caterpillar by 4.0% in the 4th quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company's stock valued at $242,000 after acquiring an additional 26 shares during the period. Channel Wealth LLC boosted its holdings in shares of Caterpillar by 1.9% during the fourth quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company's stock worth $533,000 after acquiring an additional 27 shares during the period. Finally, Total Clarity Wealth Management Inc. boosted its stake in Caterpillar by 0.6% in the 4th quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company's stock valued at $1,586,000 after purchasing an additional 27 shares during the period. Institutional investors own 70.98% of the company's stock.

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Caterpillar Price Performance

Shares of NYSE CAT traded down $22.59 during midday trading on Thursday, reaching $312.07. 2,040,373 shares of the company were exchanged, compared to its average volume of 2,537,339. Caterpillar Inc. has a one year low of $307.05 and a one year high of $418.50. The stock has a market cap of $149.15 billion, a P/E ratio of 14.14, a PEG ratio of 1.87 and a beta of 1.15. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The stock's 50-day moving average price is $351.26 and its 200-day moving average price is $372.07.

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

Insider Buying and Selling

In related news, Director Gerald Johnson bought 100 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were purchased at an average cost of $365.57 per share, with a total value of $36,557.00. Following the acquisition, the director now owns 3,053 shares of the company's stock, valued at $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the transaction, the insider now owns 6,275 shares of the company's stock, valued at $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Bank of America decreased their price target on shares of Caterpillar from $452.00 to $414.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Truist Financial dropped their price target 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. Wedbush upgraded Caterpillar to an "outperform" rating in a research note on Monday, February 3rd. DA Davidson upped their target price on Caterpillar from $350.00 to $357.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Finally, UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and raised their price target for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. Two equities 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, the company currently has a consensus rating of "Hold" and an average price target of $383.80.

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.