Bridges Investment Management Inc. Buys 2,000 Shares of Caterpillar Inc. (NYSE:CAT)

Bridges Investment Management Inc. raised its stake in Caterpillar Inc. (NYSE:CATFree Report) by 78.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,535 shares of the industrial products company’s stock after purchasing an additional 2,000 shares during the period. Bridges Investment Management Inc.’s holdings in Caterpillar were worth $1,341,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Gilfoyle & Co LLC bought a new position in shares of Caterpillar during the 4th quarter worth about $30,000. Atlas Capital Advisors LLC lifted its holdings in shares of Caterpillar by 272.4% during the 1st quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 79 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Caterpillar by 730.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 95 shares during the period. First Capital Advisors Group LLC. bought a new position in shares of Caterpillar during the 2nd quarter worth about $30,000. Finally, CGC Financial Services LLC bought a new position in shares of Caterpillar during the 2nd quarter worth about $31,000. 70.98% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $300.04, for a total value of $3,000,400.00. Following the transaction, the chief financial officer now owns 67,317 shares of the company’s stock, valued at approximately $20,197,792.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Anthony D. Fassino sold 4,575 shares of Caterpillar stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the transaction, the insider now owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the transaction, the chief financial officer now directly owns 67,317 shares in the company, valued at approximately $20,197,792.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,769 shares of company stock valued at $14,509,306. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CAT. Truist Financial began coverage on shares of Caterpillar in a report on Thursday, March 14th. They set a “buy” rating and a $390.00 price objective for the company. TD Cowen increased their target price on shares of Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. JPMorgan Chase & Co. increased their target price on shares of Caterpillar from $345.00 to $385.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. The Goldman Sachs Group increased their target price on shares of Caterpillar from $274.00 to $357.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Finally, Sanford C. Bernstein increased their target price 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Caterpillar presently has a consensus rating of “Hold” and a consensus price target of $297.89.

Get Our Latest Stock Analysis on CAT

Caterpillar Trading Up 1.4 %

Shares of NYSE CAT traded up $5.16 during mid-day trading on Wednesday, hitting $369.99. The company’s stock had a trading volume of 578,258 shares, compared to its average volume of 2,422,654. The stock has a market cap of $184.77 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 1.74 and a beta of 1.17. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.35 and a quick ratio of 0.87. Caterpillar Inc. has a one year low of $204.04 and a one year high of $372.69. The company’s fifty day simple moving average is $331.80 and its 200-day simple moving average is $289.64.

Caterpillar (NYSE:CATGet Free Report) last issued its earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.76 by $0.47. The company 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 company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.86 EPS. On average, sell-side analysts anticipate that Caterpillar Inc. will post 21.25 earnings per share for the current fiscal year.

About Caterpillar

(Free Report)

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.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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