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

Procyon Advisors LLC increased its holdings in Caterpillar Inc. (NYSE:CAT) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,908 shares of the industrial products company’s stock after buying an additional 444 shares during the quarter. Procyon Advisors LLC’s holdings in Caterpillar were worth $3,521,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Moneta Group Investment Advisors LLC boosted its position in Caterpillar by 130,632.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 9,784,017 shares of the industrial products company’s stock worth $2,343,859,000 after purchasing an additional 9,776,533 shares in the last quarter. Northern Trust Corp boosted its position in Caterpillar by 1.6% in the 3rd quarter. Northern Trust Corp now owns 6,962,809 shares of the industrial products company’s stock worth $1,900,847,000 after purchasing an additional 111,384 shares in the last quarter. Morgan Stanley boosted its position in Caterpillar by 0.7% in the 3rd quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock worth $1,864,823,000 after purchasing an additional 47,258 shares in the last quarter. FMR LLC boosted its position in Caterpillar by 14.9% in the 3rd quarter. FMR LLC now owns 6,038,207 shares of the industrial products company’s stock worth $1,648,431,000 after purchasing an additional 781,111 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Caterpillar by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,440,783 shares of the industrial products company’s stock worth $892,724,000 after purchasing an additional 92,360 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In other Caterpillar news, Director David Maclennan acquired 350 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average cost of $323.37 per share, with a total value of $113,179.50. Following the transaction, the director now owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Caterpillar news, Director David Maclennan acquired 350 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average cost of $323.37 per share, with a total value of $113,179.50. Following the transaction, the director now owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Lange Bob De sold 21,194 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the sale, the insider now directly owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,769 shares of company stock valued at $14,509,306. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CAT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on Caterpillar from $345.00 to $385.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Truist Financial initiated coverage on Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 target price on the stock. Evercore ISI lowered Caterpillar from an “outperform” rating to an “in-line” rating and increased their target price for the company from $321.00 to $338.00 in a research report on Tuesday, February 20th. Sanford C. Bernstein increased their target price on Caterpillar from $216.00 to $245.00 and gave the company a “market perform” rating in a research report on Thursday, December 21st. Finally, StockNews.com lowered Caterpillar from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $297.89.

Caterpillar Trading Up 0.3 %

Shares of CAT traded up $0.98 during midday trading on Thursday, reaching $365.63. The company had a trading volume of 236,237 shares, compared to its average volume of 2,438,821. Caterpillar Inc. has a 1-year low of $204.04 and a 1-year high of $366.20. The stock has a market cap of $182.60 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 1.70 and a beta of 1.16. The firm has a 50 day simple moving average of $325.46 and a 200-day simple moving average of $287.19. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25.

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

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.