Raymond James Financial Services Advisors Inc. raised its holdings in Caterpillar Inc. (NYSE:CAT) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 203,128 shares of the industrial products company’s stock after purchasing an additional 2,856 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Caterpillar were worth $32,009,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. HC Financial Advisors Inc. purchased a new position in shares of Caterpillar during the 4th quarter worth approximately $2,269,000. Suffolk Capital Management LLC purchased a new position in shares of Caterpillar during the 4th quarter worth approximately $7,816,000. Arizona State Retirement System boosted its position in Caterpillar by 2.8% in the 4th quarter. Arizona State Retirement System now owns 159,924 shares of the industrial products company’s stock valued at $25,201,000 after buying an additional 4,358 shares during the period. Lehman Financial Resources Inc. purchased a new position in Caterpillar in the 4th quarter valued at approximately $234,000. Finally, Eagle Asset Management Inc. boosted its position in Caterpillar by 36.1% in the 4th quarter. Eagle Asset Management Inc. now owns 28,359 shares of the industrial products company’s stock valued at $4,438,000 after buying an additional 7,525 shares during the period. 69.28% of the stock is currently owned by institutional investors and hedge funds.
In other Caterpillar news, insider Thomas A. Pellette sold 95,199 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $163.09, for a total transaction of $15,526,004.91. Following the completion of the sale, the insider now directly owns 96,268 shares in the company, valued at $15,700,348.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, the general counsel now owns 19,646 shares of the company’s stock, valued at $3,152,397.16. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.16 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $12.01 billion. During the same quarter in the prior year, the business posted $0.83 earnings per share. Caterpillar’s revenue for the quarter was up 34.7% compared to the same quarter last year. equities analysts expect that Caterpillar Inc. will post 9.1 earnings per share for the current year.
Several equities analysts have commented on the stock. Citigroup raised their price target on shares of Caterpillar from $145.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, December 21st. Vetr upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $170.44 price objective on the stock in a report on Monday, January 29th. Bank of America reiterated a “buy” rating and set a $189.00 price target (up from $158.00) on shares of Caterpillar in a research note on Friday, January 12th. ValuEngine upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, UBS Group set a $180.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a research note on Friday, January 5th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Caterpillar has a consensus rating of “Buy” and a consensus target price of $170.91.
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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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