Caterpillar Inc. (NYSE:CAT) Shares Purchased by Procyon Advisors LLC

Procyon Advisors LLC boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,908 shares of the industrial products company’s stock after buying an additional 444 shares during the period. Procyon Advisors LLC’s holdings in Caterpillar were worth $3,521,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. ACT Wealth Management LLC raised its holdings in shares of Caterpillar by 4.3% in the 4th quarter. ACT Wealth Management LLC now owns 877 shares of the industrial products company’s stock worth $259,000 after purchasing an additional 36 shares during the period. Planned Solutions Inc. purchased a new position in shares of Caterpillar in the 4th quarter worth about $169,000. Courier Capital LLC raised its holdings in shares of Caterpillar by 101.0% in the 4th quarter. Courier Capital LLC now owns 5,294 shares of the industrial products company’s stock worth $1,565,000 after purchasing an additional 2,660 shares during the period. IFG Advisory LLC raised its holdings in shares of Caterpillar by 2.9% in the 4th quarter. IFG Advisory LLC now owns 2,551 shares of the industrial products company’s stock worth $754,000 after purchasing an additional 71 shares during the period. Finally, Highland Capital Management LLC raised its holdings in shares of Caterpillar by 11.1% in the 4th quarter. Highland Capital Management LLC now owns 21,401 shares of the industrial products company’s stock worth $6,328,000 after purchasing an additional 2,130 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Up 0.3 %

NYSE CAT traded up $0.98 during trading hours on Thursday, reaching $365.63. 236,237 shares of the company traded hands, compared to its average volume of 2,438,821. Caterpillar Inc. has a 12 month low of $204.04 and a 12 month high of $366.20. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $182.60 billion, a PE ratio of 18.11, a PEG ratio of 1.70 and a beta of 1.16. The company has a 50 day moving average of $325.46 and a two-hundred day moving average of $287.19.

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

Insiders Place Their Bets

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the sale, the chief financial officer now directly owns 67,317 shares of the company’s stock, valued at $20,197,792.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the sale, the chief financial officer now directly owns 67,317 shares of the company’s stock, valued at $20,197,792.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lange Bob De sold 21,194 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the sale, the insider now directly owns 61,092 shares in the company, valued at $19,886,667.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,769 shares of company stock valued at $14,509,306. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Citigroup raised their price objective on Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. The Goldman Sachs Group boosted their price target on Caterpillar from $274.00 to $357.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Truist Financial assumed coverage on Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 price target on the stock. Sanford C. Bernstein upped their target price on shares of Caterpillar from $216.00 to $245.00 and gave the company a “market perform” rating in a research note on Thursday, December 21st. Finally, Morgan Stanley assumed coverage on shares of Caterpillar in a research note on Monday, January 8th. They issued an “equal weight” rating and a $270.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Caterpillar has an average rating of “Hold” and a consensus target price of $297.89.

Caterpillar 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.