Miller Financial Services LLC Invests $958,000 in Caterpillar Inc. (NYSE:CAT)

Miller Financial Services LLC acquired a new stake in Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,642 shares of the industrial products company’s stock, valued at approximately $958,000.

Other hedge funds have also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at about $27,000. Noble Wealth Management PBC purchased a new stake in shares of Caterpillar in the fourth quarter valued at about $31,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at about $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Caterpillar in the third quarter valued at about $36,000. Finally, Albion Financial Group UT grew its holdings in shares of Caterpillar by 334.8% in the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 77 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CAT. Citigroup upped their price objective on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a report on Friday, January 31st. Morgan Stanley decreased their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Truist Financial decreased their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Bank of America decreased their target price on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Evercore ISI upped their target price on shares of Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $383.80.

Insider Activity at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the acquisition, the director now owns 3,053 shares of the company’s stock, valued at $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

Caterpillar Stock Down 1.5 %

Shares of NYSE:CAT opened at $344.90 on Tuesday. The firm’s 50 day moving average price is $362.75 and its 200 day moving average price is $373.00. The stock has a market cap of $164.84 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two week high of $418.50. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. As a group, equities research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.