Granite Investment Advisors LLC purchased a new position in Caterpillar Inc. (NYSE:CAT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,572 shares of the industrial products company’s stock, valued at approximately $248,000.
Other institutional investors also recently made changes to their positions in the company. Quadrant Capital Group LLC grew its position in shares of Caterpillar by 10.6% during the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 128 shares in the last quarter. Gradient Investments LLC purchased a new position in shares of Caterpillar during the fourth quarter valued at about $113,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Caterpillar during the fourth quarter valued at about $131,000. Aevitas Wealth Management Inc. purchased a new position in Caterpillar in the fourth quarter worth about $143,000. Finally, Massey Quick Simon & CO. LLC grew its position in Caterpillar by 4,240.7% in the third quarter. Massey Quick Simon & CO. LLC now owns 1,172 shares of the industrial products company’s stock worth $146,000 after acquiring an additional 1,145 shares in the last quarter. 69.28% of the stock is currently owned by institutional investors.
Several research analysts recently commented on the company. ValuEngine lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Credit Suisse Group reiterated a “buy” rating and issued a $210.00 price target on shares of Caterpillar in a research report on Wednesday. Vetr lowered Caterpillar from a “buy” rating to a “hold” rating and set a $169.96 target price for the company. in a research report on Tuesday, February 27th. Citigroup restated a “neutral” rating and set a $185.00 target price (up previously from $160.00) on shares of Caterpillar in a research report on Friday, January 19th. Finally, Jefferies Group restated a “hold” rating and set a $170.00 target price on shares of Caterpillar in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $170.91.
In other Caterpillar news, insider Thomas A. Pellette sold 95,199 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $163.09, for a total value of $15,526,004.91. Following the sale, the insider now directly owns 96,268 shares of the company’s stock, valued at $15,700,348.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Suzette M. Long sold 528 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $160.46, for a total transaction of $84,722.88. Following the completion of the sale, the general counsel now directly owns 19,646 shares in the company, valued at $3,152,397.16. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.
Shares of Caterpillar Inc. (NYSE CAT) traded down $1.15 on Wednesday, hitting $152.54. 4,870,000 shares of the stock were exchanged, compared to its average volume of 6,650,000. The stock has a market capitalization of $91,160.00, a price-to-earnings ratio of 29.17, a PEG ratio of 1.41 and a beta of 1.23. The company has a quick ratio of 0.97, a current ratio of 1.35 and a debt-to-equity ratio of 1.73. Caterpillar Inc. has a 12-month low of $90.34 and a 12-month high of $173.24.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.39. Caterpillar had a net margin of 1.66% and a return on equity of 28.69%. The firm had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.01 billion. During the same period in the previous year, the company earned $0.83 earnings per share. The business’s quarterly revenue was up 34.7% compared to the same quarter last year. equities research analysts forecast that Caterpillar Inc. will post 9.1 EPS for the current fiscal year.
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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