Peapack Gladstone Financial Corp Acquires 811 Shares of Caterpillar Inc. (NYSE:CAT)

Peapack Gladstone Financial Corp grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,255 shares of the industrial products company’s stock after purchasing an additional 811 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Caterpillar were worth $29,477,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Caterpillar by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock worth $16,980,629,000 after acquiring an additional 284,366 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Caterpillar by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company’s stock valued at $3,790,841,000 after purchasing an additional 236,315 shares during the period. Fisher Asset Management LLC grew its stake in Caterpillar by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company’s stock worth $3,294,505,000 after purchasing an additional 129,143 shares in the last quarter. Norges Bank bought a new stake in Caterpillar during the 4th quarter valued at $2,184,364,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Caterpillar by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,289,101 shares of the industrial products company’s stock worth $1,193,154,000 after buying an additional 61,723 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Trading Down 5.9 %

NYSE CAT opened at $287.57 on Friday. Caterpillar Inc. has a 12-month low of $281.50 and a 12-month high of $418.50. The company has a fifty day simple moving average of $346.83 and a two-hundred day simple moving average of $371.31. 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 market cap of $137.44 billion, a P/E ratio of 13.03, a P/E/G ratio of 1.87 and a beta of 1.21.

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

Analysts Set New Price Targets

Several research firms recently weighed in on CAT. DA Davidson lifted their price objective on Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Raymond James raised shares of Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Evercore ISI boosted their price objective on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Finally, UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and increased their target price for the company from $355.00 to $385.00 in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Caterpillar presently has an average rating of “Hold” and an average price target of $383.80.

Insiders Place Their Bets

In related news, Director Gerald Johnson bought 100 shares of the stock in a transaction dated Tuesday, February 4th. The shares were purchased at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the purchase, the director now directly owns 3,053 shares of the company’s stock, valued at $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar 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 owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This 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 insiders.

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.