Financial Advocates Investment Management Purchases Shares of 4,948 Caterpillar Inc. (CAT)
Financial Advocates Investment Management purchased a new stake in Caterpillar Inc. (NYSE:CAT) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,948 shares of the industrial products company’s stock, valued at approximately $780,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of Caterpillar by 6.5% in the 4th quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock valued at $5,919,590,000 after buying an additional 2,297,750 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Caterpillar by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 6,212,261 shares of the industrial products company’s stock valued at $976,845,000 after buying an additional 323,920 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Caterpillar by 126.5% in the 4th quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock valued at $937,817,000 after buying an additional 3,324,051 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Caterpillar by 17.7% in the 4th quarter. TIAA CREF Investment Management LLC now owns 4,035,424 shares of the industrial products company’s stock valued at $635,902,000 after buying an additional 607,875 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Caterpillar by 0.4% in the 3rd quarter. Legal & General Group Plc now owns 2,955,916 shares of the industrial products company’s stock valued at $368,648,000 after buying an additional 11,745 shares in the last quarter. 69.28% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on CAT. Credit Suisse Group reissued a “buy” rating and issued a $210.00 price target on shares of Caterpillar in a research note on Wednesday. ValuEngine cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Morgan Stanley assumed coverage on Caterpillar in a report on Friday, March 2nd. They issued an “overweight” rating and a $185.00 target price for the company. Vetr upgraded Caterpillar from a “buy” rating to a “strong-buy” rating and set a $180.95 target price for the company in a report on Thursday, March 1st. Finally, UBS set a $190.00 target price on Caterpillar and gave the stock a “buy” rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Caterpillar currently has a consensus rating of “Buy” and an average price target of $170.91.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.39. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. The company had revenue of $12.90 billion during the quarter, compared to analyst estimates of $12.01 billion. During the same period in the previous year, the company earned $0.83 earnings per share. The company’s quarterly revenue was up 34.7% compared to the same quarter last year. equities research analysts anticipate that Caterpillar Inc. will post 9.1 EPS for the current year.
In other news, insider Thomas A. Pellette sold 95,199 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $163.09, for a total transaction of $15,526,004.91. Following the completion of the transaction, the insider now directly owns 96,268 shares in the company, valued at $15,700,348.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Suzette M. Long sold 528 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total value of $84,722.88. Following the transaction, the general counsel now owns 19,646 shares of the company’s stock, valued at $3,152,397.16. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.
Caterpillar Company Profile
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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