Cornell Pochily Investment Advisors Inc. Raises Holdings in Caterpillar Inc. (NYSE:CAT)

Cornell Pochily Investment Advisors Inc. grew its holdings in Caterpillar Inc. (NYSE:CAT) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,647 shares of the industrial products company’s stock after acquiring an additional 373 shares during the quarter. Caterpillar accounts for approximately 1.1% of Cornell Pochily Investment Advisors Inc.’s holdings, making the stock its 22nd largest holding. Cornell Pochily Investment Advisors Inc.’s holdings in Caterpillar were worth $2,557,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Atlas Capital Advisors LLC boosted its stake in Caterpillar by 272.4% during the 1st quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 79 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Caterpillar by 730.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 95 shares during the last quarter. First Capital Advisors Group LLC. acquired a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $30,000. CGC Financial Services LLC bought a new position in shares of Caterpillar in the second quarter valued at $31,000. Finally, Fortitude Family Office LLC acquired a new position in Caterpillar in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

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

Caterpillar Trading Up 0.1 %

Shares of NYSE:CAT traded up $0.48 during midday trading on Thursday, reaching $365.13. The company’s stock had a trading volume of 311,935 shares, compared to its average volume of 2,440,607. 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 price of $325.46 and a two-hundred day moving average price of $287.19. The firm has a market capitalization of $182.35 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 1.70 and a beta of 1.16. Caterpillar Inc. has a fifty-two week low of $204.04 and a fifty-two week high of $366.20.

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

Insider Activity at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was 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 in the company, valued at $17,774,001.70. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Lange Bob De sold 21,194 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the transaction, the insider now owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The transaction 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 Caterpillar stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the completion of the transaction, the chief financial officer now directly owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The disclosure for this sale can be found here. Insiders sold a total of 45,769 shares of company stock valued at $14,509,306 over the last ninety days. Insiders own 0.33% of the company’s stock.

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.