Caterpillar Inc. $CAT Shares Bought by NorthRock Partners LLC

NorthRock Partners LLC grew its holdings in Caterpillar Inc. (NYSE:CAT) by 24.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,540 shares of the industrial products company’s stock after purchasing an additional 2,499 shares during the quarter. NorthRock Partners LLC’s holdings in Caterpillar were worth $5,983,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CAT. Fisher Asset Management LLC lifted its position in Caterpillar by 2.3% during the second quarter. Fisher Asset Management LLC now owns 9,418,321 shares of the industrial products company’s stock worth $3,656,286,000 after buying an additional 208,196 shares in the last quarter. Norges Bank acquired a new position in Caterpillar during the second quarter worth $2,165,899,000. Bank of New York Mellon Corp grew its holdings in Caterpillar by 20.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,553,930 shares of the industrial products company’s stock valued at $1,695,757,000 after buying an additional 609,023 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Caterpillar by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,337,915 shares of the industrial products company’s stock worth $1,295,432,000 after acquiring an additional 33,467 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Caterpillar by 4.5% during the 2nd quarter. Invesco Ltd. now owns 3,282,720 shares of the industrial products company’s stock worth $1,274,385,000 after acquiring an additional 140,784 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 7,891 shares of the business’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $776.90, for a total value of $6,130,517.90. Following the sale, the insider owned 46,643 shares in the company, valued at approximately $36,236,946.70. The trade was a 14.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rodney Michael Shurman sold 2,278 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $759.61, for a total value of $1,730,391.58. Following the transaction, the insider owned 1,443 shares of the company’s stock, valued at $1,096,117.23. This trade represents a 61.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 135,950 shares of company stock worth $94,327,990. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on CAT. Jefferies Financial Group boosted their price target on shares of Caterpillar from $785.00 to $825.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Williams Trading set a $825.00 target price on shares of Caterpillar in a research note on Tuesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Caterpillar in a report on Monday, December 29th. Truist Financial raised their price target on shares of Caterpillar from $729.00 to $786.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Finally, Daiwa Securities Group lifted their price target on shares of Caterpillar from $640.00 to $790.00 in a research report on Wednesday, February 25th. Sixteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $730.50.

Caterpillar Stock Performance

NYSE:CAT opened at $693.89 on Friday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $789.81. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.94 and a current ratio of 1.44. The company has a 50 day moving average price of $693.92 and a 200 day moving average price of $583.93. The stock has a market capitalization of $322.86 billion, a P/E ratio of 36.87, a PEG ratio of 1.65 and a beta of 1.54.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, beating 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 company had revenue of $19.13 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the company earned $5.14 earnings per share. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. Equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar 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.