Patten & Patten Inc. TN Acquires 100 Shares of Caterpillar Inc. (NYSE:CAT)

Patten & Patten Inc. TN raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,924 shares of the industrial products company’s stock after purchasing an additional 100 shares during the period. Patten & Patten Inc. TN’s holdings in Caterpillar were worth $1,423,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CAT. Raymond James Financial Inc. bought a new stake in Caterpillar during the 4th quarter valued at $353,231,000. Proficio Capital Partners LLC increased its holdings in shares of Caterpillar by 50,072.7% in the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock valued at $291,938,000 after acquiring an additional 803,166 shares during the period. Amundi increased its holdings in shares of Caterpillar by 17.3% in the 4th quarter. Amundi now owns 2,166,087 shares of the industrial products company’s stock valued at $782,109,000 after acquiring an additional 318,891 shares during the period. Zurich Insurance Group Ltd FI increased its holdings in shares of Caterpillar by 4,018.6% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock valued at $99,874,000 after acquiring an additional 249,155 shares during the period. Finally, Strategic Financial Concepts LLC increased its holdings in shares of Caterpillar by 36,168.5% in the 4th quarter. Strategic Financial Concepts LLC now owns 227,041 shares of the industrial products company’s stock valued at $82,361,000 after acquiring an additional 226,415 shares during the period. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Performance

NYSE CAT opened at $340.46 on Monday. The stock has a market capitalization of $162.72 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a twelve month low of $307.05 and a twelve 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. The stock has a 50-day moving average of $360.81 and a 200 day moving average of $372.66.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping 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 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Raymond James upgraded Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their target price on Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Evercore ISI boosted 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. Bank of America dropped their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Truist Financial dropped their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $383.80.

Insider Buying and Selling at Caterpillar

In other news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $365.57 per share, with a total value of $36,557.00. Following the completion of the acquisition, the director now directly owns 3,053 shares of the company’s stock, valued at $1,116,085.21. The trade was a 3.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jason Kaiser sold 2,425 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the transaction, the insider now directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. The trade was a 27.87 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

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.