Phocas Financial Corp. purchased a new position in Caterpillar Inc. (NYSE:CAT – Get Rating) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 645 shares of the industrial products company’s stock, valued at approximately $155,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Morgan Dempsey Capital Management LLC acquired a new stake in shares of Caterpillar in the third quarter worth about $33,000. Cowa LLC acquired a new position in shares of Caterpillar in the third quarter valued at $33,000. Alpha Paradigm Partners LLC bought a new position in shares of Caterpillar during the 2nd quarter worth about $40,000. McClarren Financial Advisors Inc. bought a new position in Caterpillar during the third quarter worth about $49,000. Finally, Heritage Wealth Management LLC bought a new position in shares of Caterpillar during the 2nd quarter worth approximately $62,000. 68.02% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
CAT has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on Caterpillar from $228.00 to $240.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 1st. UBS Group cut shares of Caterpillar from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $230.00 to $225.00 in a research note on Friday, March 10th. Morgan Stanley boosted their target price on Caterpillar from $174.00 to $190.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 14th. Cowen lifted their price objective on shares of Caterpillar from $240.00 to $264.00 and gave the stock an “outperform” rating in a research note on Friday, December 9th. Finally, Cowen upped their target price on shares of Caterpillar from $240.00 to $264.00 in a research note on Friday, December 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $241.00.
Insider Buying and Selling at Caterpillar
Caterpillar Stock Down 1.7 %
NYSE:CAT opened at $215.01 on Friday. The stock has a 50-day simple moving average of $246.19 and a 200 day simple moving average of $222.28. Caterpillar Inc. has a 52-week low of $160.60 and a 52-week high of $266.04. The company has a market cap of $111.02 billion, a PE ratio of 17.00, a PEG ratio of 1.16 and a beta of 1.11. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.87 and a current ratio of 1.39.
Caterpillar (NYSE:CAT – Get Rating) last issued its quarterly earnings results on Tuesday, January 31st. The industrial products company reported $3.86 earnings per share for the quarter, missing the consensus estimate of $3.95 by ($0.09). The business had revenue of $16.60 billion for the quarter, compared to the consensus estimate of $15.84 billion. Caterpillar had a return on equity of 45.61% and a net margin of 11.28%. Caterpillar’s revenue was up 20.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.69 earnings per share. On average, sell-side analysts expect that Caterpillar Inc. will post 15.67 EPS for the current fiscal year.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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