Y.D. More Investments Ltd Grows Stock Holdings in Caterpillar Inc. $CAT

Y.D. More Investments Ltd raised its stake in Caterpillar Inc. (NYSE:CAT) by 79.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,658 shares of the industrial products company’s stock after buying an additional 6,066 shares during the quarter. Y.D. More Investments Ltd’s holdings in Caterpillar were worth $7,828,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CAT. Illinois Municipal Retirement Fund raised its position in Caterpillar by 7.3% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 17,262 shares of the industrial products company’s stock valued at $8,237,000 after purchasing an additional 1,181 shares in the last quarter. Union Bancaire Privee UBP SA raised its holdings in Caterpillar by 155.9% during the third quarter. Union Bancaire Privee UBP SA now owns 47,231 shares of the industrial products company’s stock worth $21,014,000 after purchasing an additional 28,773 shares in the last quarter. Caprock Group LLC purchased a new stake in Caterpillar in the third quarter valued at $8,893,000. ZEGA Investments LLC boosted its position in shares of Caterpillar by 149.6% in the 3rd quarter. ZEGA Investments LLC now owns 4,184 shares of the industrial products company’s stock valued at $1,996,000 after purchasing an additional 2,508 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its position in shares of Caterpillar by 2.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 165,677 shares of the industrial products company’s stock worth $79,053,000 after acquiring an additional 4,010 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CAT shares. Truist Financial increased their price target on Caterpillar from $729.00 to $786.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Royal Bank Of Canada raised their price objective on Caterpillar from $587.00 to $658.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Citigroup lifted their target price on shares of Caterpillar from $760.00 to $785.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Daiwa Securities Group boosted their price target on Caterpillar from $640.00 to $790.00 in a report on Wednesday, February 25th. Finally, Williams Trading set a $825.00 target price on shares of Caterpillar in a research report on Tuesday, March 10th. Sixteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $737.55.

Caterpillar Stock Performance

Shares of CAT opened at $717.23 on Monday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $789.81. The business’s fifty day moving average price is $715.54 and its 200 day moving average price is $615.21. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.44 and a quick ratio of 0.94. The stock has a market capitalization of $333.72 billion, a PE ratio of 38.11, a price-to-earnings-growth ratio of 1.69 and a beta of 1.52.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, January 29th. The industrial products company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.49. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.The firm had revenue of $19.13 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the business earned $5.14 EPS. The firm’s revenue was up 17.9% on a year-over-year basis. Equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Activity at Caterpillar

In other news, insider Denise C. Johnson sold 39,138 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $681.08, for a total value of $26,656,109.04. Following the completion of the sale, the insider owned 43,350 shares in the company, valued at $29,524,818. This represents a 47.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph E. Creed sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $718.93, for a total transaction of $1,797,325.00. Following the sale, the chief executive officer owned 35,083 shares of the company’s stock, valued at approximately $25,222,221.19. This represents a 6.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 125,950 shares of company stock worth $88,577,390. Company insiders own 0.33% of the company’s stock.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.