703 Shares in Caterpillar Inc. (NYSE:CAT) Purchased by Successful Portfolios LLC

Successful Portfolios LLC purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 703 shares of the industrial products company’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAT. BCK Partners Inc. purchased a new stake in Caterpillar in the first quarter valued at $2,580,000. Sei Investments Co. boosted its position in shares of Caterpillar by 17.3% during the 1st quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company’s stock worth $14,634,000 after purchasing an additional 9,695 shares during the period. Dakota Wealth Management purchased a new position in shares of Caterpillar during the 1st quarter worth approximately $405,000. Mather Group LLC. lifted its holdings in Caterpillar by 6.8% during the 1st quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company’s stock worth $577,000 after buying an additional 165 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in Caterpillar by 4.4% during the 1st quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company’s stock worth $11,075,000 after acquiring an additional 2,076 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total value of $3,101,000.00. Following the sale, the chief financial officer now owns 57,317 shares in the company, valued at $17,774,001.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the transaction, the chief financial officer now directly owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Anthony D. Fassino sold 4,575 shares of Caterpillar stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the completion of the transaction, the insider now owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,769 shares of company stock worth $14,509,306. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 0.5 %

Caterpillar stock traded up $1.78 during midday trading on Thursday, hitting $366.43. 2,026,537 shares of the company’s stock were exchanged, compared to its average volume of 2,469,147. Caterpillar Inc. has a 12 month low of $204.04 and a 12 month high of $367.22. The company has a market cap of $183.00 billion, a PE ratio of 18.11, a P/E/G ratio of 1.70 and a beta of 1.16. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 1.35. The firm has a 50-day moving average of $325.46 and a two-hundred day moving average of $287.19.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, beating analysts’ consensus estimates of $4.76 by $0.47. The company had revenue of $17.07 billion during the quarter, compared to analysts’ expectations of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.86 earnings per share. As a group, analysts expect that Caterpillar Inc. will post 21.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Sanford C. Bernstein raised their price target on shares of Caterpillar from $216.00 to $245.00 and gave the stock a “market perform” rating in a research report on Thursday, December 21st. Truist Financial assumed coverage on shares of Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 target price on the stock. Morgan Stanley initiated coverage on shares of Caterpillar in a research report on Monday, January 8th. They set an “equal weight” rating and a $270.00 price target on the stock. Evercore ISI cut Caterpillar from an “outperform” rating to an “in-line” rating and increased their target price for the stock from $321.00 to $338.00 in a research note on Tuesday, February 20th. Finally, Wells Fargo & Company raised their price target on Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and a consensus price target of $297.89.

About Caterpillar

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.