Diametric Capital LP Takes $350,000 Position in Caterpillar Inc. (NYSE:CAT)

Diametric Capital LP acquired a new position in Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 964 shares of the industrial products company’s stock, valued at approximately $350,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in Caterpillar by 1.6% during the fourth quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock worth $231,686,000 after acquiring an additional 10,212 shares during the period. West Wealth Group LLC bought a new stake in shares of Caterpillar during the 4th quarter worth $230,000. Cadinha & Co. LLC purchased a new position in shares of Caterpillar in the 4th quarter worth about $11,084,000. Atomi Financial Group Inc. grew its position in Caterpillar by 3.9% during the fourth quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock valued at $8,414,000 after buying an additional 871 shares during the period. Finally, Copley Financial Group Inc. bought a new stake in Caterpillar in the third quarter worth about $800,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CAT shares. Truist Financial decreased 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. Raymond James upgraded Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. Citigroup increased their price target on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Bank of America lowered their price objective 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, DA Davidson increased their target price on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $383.80.

Insiders Place Their Bets

In related news, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 6,275 shares in the company, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $17,173,226.38. The trade was a 18.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Trading Up 0.2 %

Caterpillar stock opened at $330.40 on Wednesday. The stock has a market cap of $157.91 billion, a P/E ratio of 14.97, a PEG 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 firm’s fifty day moving average price is $352.51 and its 200-day moving average price is $372.33. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42.

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, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

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.