Bowen Hanes & Co. Inc. Increases Position in Caterpillar Inc. (NYSE:CAT)

Bowen Hanes & Co. Inc. boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 388.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 38,779 shares of the industrial products company’s stock after buying an additional 30,835 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Caterpillar were worth $14,067,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC bought a new stake in Caterpillar in the 4th quarter valued at $27,000. Noble Wealth Management PBC bought a new stake in shares of Caterpillar in the 4th quarter worth about $31,000. Retirement Wealth Solutions LLC bought a new stake in shares of Caterpillar in the 4th quarter worth about $34,000. Albion Financial Group UT increased its holdings in shares of Caterpillar by 334.8% in the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after buying an additional 77 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of Caterpillar in the 4th quarter worth about $36,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

Caterpillar stock opened at $338.50 on Thursday. The stock has a market cap of $161.78 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. The firm has a 50-day moving average of $361.80 and a two-hundred day moving average of $372.69.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS 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%. On average, research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on CAT. Evercore ISI boosted their target price on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. DA Davidson boosted their target price on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group lifted their price target on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Citigroup lifted their price target on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Truist Financial dropped their price target on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $383.80.

Insider Activity

In related news, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the transaction, the insider now owns 6,275 shares in the company, valued at $2,225,742.50. The trade was a 27.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

About Caterpillar

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.