TCTC Holdings LLC Increases Stake in Caterpillar Inc. (NYSE:CAT)

TCTC Holdings LLC boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 96.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 196 shares of the industrial products company’s stock after purchasing an additional 96 shares during the quarter. TCTC Holdings LLC’s holdings in Caterpillar were worth $71,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Caterpillar during the 4th quarter valued at about $353,231,000. Proficio Capital Partners LLC lifted its stake in Caterpillar by 50,072.7% during the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock valued at $291,938,000 after acquiring an additional 803,166 shares during the period. Amundi lifted its stake in Caterpillar by 17.3% during the 4th quarter. Amundi now owns 2,166,087 shares of the industrial products company’s stock valued at $782,109,000 after acquiring an additional 318,891 shares during the period. Zurich Insurance Group Ltd FI lifted its stake in Caterpillar by 4,018.6% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock valued at $99,874,000 after acquiring an additional 249,155 shares during the period. Finally, Strategic Financial Concepts LLC lifted its stake in Caterpillar by 36,168.5% during the 4th quarter. Strategic Financial Concepts LLC now owns 227,041 shares of the industrial products company’s stock valued at $82,361,000 after acquiring an additional 226,415 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 4th. The shares were bought at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the transaction, the director now owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. This trade represents a 3.39 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CAT. Wedbush upgraded shares of Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Truist Financial dropped their price objective on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Bank of America dropped their price objective on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Raymond James raised shares of Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $383.80.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $342.66 on Tuesday. The company has a market capitalization of $163.77 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.87 and a beta of 1.15. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a 1-year low of $307.05 and a 1-year high of $418.50. The firm’s 50 day simple moving average is $360.39 and its two-hundred day simple moving average is $372.60.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) 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%. Research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

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.