Erste Asset Management GmbH Grows Stock Position in Caterpillar Inc. (NYSE:CAT)

Erste Asset Management GmbH grew its position in Caterpillar Inc. (NYSE:CAT) by 2.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 106,809 shares of the industrial products company’s stock after buying an additional 3,030 shares during the quarter. Erste Asset Management GmbH’s holdings in Caterpillar were worth $38,959,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CAT. Halbert Hargrove Global Advisors LLC purchased a new position in Caterpillar during the fourth quarter worth approximately $27,000. Noble Wealth Management PBC purchased a new position in Caterpillar during the fourth quarter worth approximately $31,000. Retirement Wealth Solutions LLC purchased a new position in Caterpillar during the fourth quarter worth approximately $34,000. Albion Financial Group UT lifted its position in Caterpillar by 334.8% during the fourth 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 in the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in Caterpillar during the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CAT shares. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. DA Davidson lifted their price objective on Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Wedbush raised Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Evercore ISI raised their target price on Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Finally, Truist Financial cut their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $383.80.

Caterpillar Trading Down 0.4 %

NYSE:CAT opened at $338.50 on Thursday. The firm has a market cap of $161.78 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The stock has a fifty day moving average price of $361.80 and a 200 day moving average price of $372.69. Caterpillar Inc. has a 12-month low of $307.05 and a 12-month high of $418.50. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Activity at Caterpillar

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

Caterpillar Company 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.