ZEGA Investments LLC Takes Position in Caterpillar Inc. (NYSE:CAT)

ZEGA Investments LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 3,411 shares of the industrial products company's stock, valued at approximately $1,237,000.

Several other hedge funds also recently made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Caterpillar in the 4th quarter worth about $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Caterpillar during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new position in shares of Caterpillar during the fourth quarter worth approximately $31,000. Retirement Wealth Solutions LLC bought a new position in Caterpillar in the 4th quarter worth approximately $34,000. Finally, Albion Financial Group UT increased its position in Caterpillar by 334.8% in the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company's stock valued at $36,000 after acquiring an additional 77 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CAT. StockNews.com cut Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Bank of America lowered their target price 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. Jefferies Financial Group upped their price target on shares of Caterpillar from $455.00 to $475.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Morgan Stanley dropped their target price on Caterpillar from $330.00 to $300.00 and set an "underweight" rating on the stock in a 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 equities 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. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $383.80.

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Caterpillar Stock Up 0.4 %

Shares of CAT traded up $1.49 during mid-day trading on Tuesday, reaching $343.16. The company's stock had a trading volume of 497,145 shares, compared to its average volume of 2,537,271. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. 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 company has a market cap of $164.01 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The business has a fifty day moving average of $358.19 and a 200 day moving average of $372.36.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data 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%. As a group, analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Gerald Johnson bought 100 shares of the stock in a transaction that occurred on 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 purchase, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 45,182 shares in the company, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

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.