Stifel Financial Corp increased its stake in Caterpillar Inc. (NYSE:CAT) by 18.9% in the fourth quarter, HoldingsChannel reports. The firm owned 448,983 shares of the industrial products company’s stock after acquiring an additional 71,282 shares during the quarter. Stifel Financial Corp’s holdings in Caterpillar were worth $57,208,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Loeb Partners Corp acquired a new stake in Caterpillar in the 4th quarter valued at about $25,000. Bartlett & Co. LLC grew its holdings in Caterpillar by 150.0% during the fourth quarter. Bartlett & Co. LLC now owns 250 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Murphy Pohlad Asset Management LLC bought a new stake in Caterpillar during the 4th quarter valued at approximately $48,000. Vectors Research Management LLC boosted its position in Caterpillar by 32.1% during the 4th quarter. Vectors Research Management LLC now owns 412 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 100 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new stake in Caterpillar during the 4th quarter valued at approximately $55,000. Institutional investors and hedge funds own 66.02% of the company’s stock.
Several analysts have weighed in on the company. Zacks Investment Research cut Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday, January 25th. ValuEngine upgraded shares of Caterpillar from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Credit Suisse Group reiterated a “buy” rating and set a $173.00 target price on shares of Caterpillar in a report on Thursday, February 14th. OTR Global lowered shares of Caterpillar to a “positive” rating in a report on Friday, February 15th. Finally, Morgan Stanley set a $160.00 target price on shares of Caterpillar and gave the company a “buy” rating in a report on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $150.24.
Caterpillar (NYSE:CAT) last released its earnings results on Monday, January 28th. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.98 by ($0.43). Caterpillar had a net margin of 11.23% and a return on equity of 45.31%. The business had revenue of $14.34 billion for the quarter, compared to analysts’ expectations of $14.36 billion. During the same quarter in the previous year, the business posted $2.16 earnings per share. Caterpillar’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, sell-side analysts forecast that Caterpillar Inc. will post 12.24 earnings per share for the current fiscal year.
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Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, feller bunchers, harvesters, motorgraders, pipelayers, road reclaimers, skidders, telehandlers, and utility vehicles; backhoe, knuckleboom, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.
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