Invesco Ltd. Raises Holdings in Caterpillar Inc. (NYSE:CAT)

Invesco Ltd. grew its position in Caterpillar Inc. (NYSE:CAT) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,991,403 shares of the industrial products company’s stock after purchasing an additional 9,212 shares during the period. Invesco Ltd. owned approximately 0.62% of Caterpillar worth $1,085,161,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in Caterpillar by 0.7% in the third quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company’s stock valued at $285,382,000 after purchasing an additional 5,371 shares during the period. EP Wealth Advisors LLC grew its stake in Caterpillar by 55.0% during the 3rd quarter. EP Wealth Advisors LLC now owns 18,032 shares of the industrial products company’s stock valued at $7,053,000 after purchasing an additional 6,400 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in Caterpillar by 3.3% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 27,053 shares of the industrial products company’s stock worth $10,581,000 after purchasing an additional 856 shares during the last quarter. Dunhill Financial LLC boosted its stake in shares of Caterpillar by 47.0% during the 3rd quarter. Dunhill Financial LLC now owns 169 shares of the industrial products company’s stock valued at $66,000 after buying an additional 54 shares during the last quarter. Finally, Northeast Financial Consultants Inc acquired a new stake in shares of Caterpillar during the third quarter worth approximately $232,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CAT shares. Bank of America cut 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. JPMorgan Chase & Co. reduced their price objective on Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Truist Financial lowered their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company 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 company an “in-line” rating in a research note on Wednesday, February 19th. Finally, Wedbush raised Caterpillar to an “outperform” rating in a report 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 stock. According to MarketBeat, Caterpillar has an average rating of “Hold” and an average price target of $383.80.

Insider Activity

In other news, insider Jason Kaiser sold 2,425 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Stock Down 5.9 %

Shares of NYSE:CAT opened at $287.57 on Monday. Caterpillar Inc. has a 52 week low of $269.43 and a 52 week high of $418.50. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The company has a market cap of $137.44 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21. The firm has a 50 day simple moving average of $346.83 and a 200 day simple moving average of $371.43.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share 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%. As a group, research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current 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.