Cornell Pochily Investment Advisors Inc. Increases Stock Position in Caterpillar Inc. (NYSE:CAT)

Cornell Pochily Investment Advisors Inc. boosted its stake in Caterpillar Inc. (NYSE:CAT) by 4.5% during the 4th quarter, HoldingsChannel reports. The fund owned 8,647 shares of the industrial products company’s stock after buying an additional 373 shares during the period. Caterpillar comprises 1.1% of Cornell Pochily Investment Advisors Inc.’s portfolio, making the stock its 22nd largest position. Cornell Pochily Investment Advisors Inc.’s holdings in Caterpillar were worth $2,557,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Procyon Advisors LLC grew its stake in shares of Caterpillar by 3.9% during the 4th quarter. Procyon Advisors LLC now owns 11,908 shares of the industrial products company’s stock worth $3,521,000 after acquiring an additional 444 shares in the last quarter. ACT Wealth Management LLC boosted its stake in shares of Caterpillar by 4.3% in the 4th quarter. ACT Wealth Management LLC now owns 877 shares of the industrial products company’s stock worth $259,000 after buying an additional 36 shares during the last quarter. Planned Solutions Inc. bought a new stake in shares of Caterpillar during the fourth quarter valued at about $169,000. Courier Capital LLC grew its position in shares of Caterpillar by 101.0% in the 4th quarter. Courier Capital LLC now owns 5,294 shares of the industrial products company’s stock worth $1,565,000 after buying an additional 2,660 shares during the last quarter. Finally, IFG Advisory LLC increased its position in shares of Caterpillar by 2.9% during the fourth quarter. IFG Advisory LLC now owns 2,551 shares of the industrial products company’s stock valued at $754,000 after acquiring an additional 71 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $300.04, for a total value of $3,000,400.00. Following the completion of the sale, the chief financial officer now directly owns 67,317 shares of the company’s stock, valued at approximately $20,197,792.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the transaction, the insider now owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $300.04, for a total value of $3,000,400.00. Following the completion of the transaction, the chief financial officer now directly owns 67,317 shares in the company, valued at $20,197,792.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,769 shares of company stock worth $14,509,306. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on CAT. StockNews.com downgraded shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Sanford C. Bernstein raised their price target on shares of Caterpillar from $216.00 to $245.00 and gave the stock a “market perform” rating in a research report on Thursday, December 21st. Wells Fargo & Company boosted their price target on shares of Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Truist Financial assumed coverage on Caterpillar in a report on Thursday, March 14th. They set a “buy” rating and a $390.00 target price on the stock. Finally, Stifel Nicolaus raised their price target on Caterpillar from $285.00 to $293.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $297.89.

Caterpillar Stock Up 0.1 %

NYSE CAT traded up $0.48 during mid-day trading on Thursday, hitting $365.13. The company’s stock had a trading volume of 311,935 shares, compared to its average volume of 2,440,607. Caterpillar Inc. has a twelve month low of $204.04 and a twelve month high of $366.20. The company’s 50 day simple moving average is $325.46 and its 200 day simple moving average is $287.19. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $182.35 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 1.70 and a beta of 1.16.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, topping analysts’ consensus estimates of $4.76 by $0.47. The firm had revenue of $17.07 billion for the quarter, compared to analyst estimates of $17.06 billion. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.86 earnings per share. Analysts anticipate that Caterpillar Inc. will post 21.25 earnings per share for the current year.

About Caterpillar

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.