South Shore Capital Advisors Takes Position in Caterpillar Inc. $CAT

South Shore Capital Advisors purchased a new stake in Caterpillar Inc. (NYSE:CAT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 794 shares of the industrial products company’s stock, valued at approximately $455,000.

Several other hedge funds have also modified their holdings of CAT. Illinois Municipal Retirement Fund raised its holdings in Caterpillar by 7.3% during the third quarter. Illinois Municipal Retirement Fund now owns 17,262 shares of the industrial products company’s stock worth $8,237,000 after purchasing an additional 1,181 shares during the last quarter. Union Bancaire Privee UBP SA raised its holdings in Caterpillar by 155.9% during the third quarter. Union Bancaire Privee UBP SA now owns 47,231 shares of the industrial products company’s stock worth $21,014,000 after purchasing an additional 28,773 shares during the last quarter. Caprock Group LLC acquired a new position in Caterpillar during the third quarter worth $8,893,000. ZEGA Investments LLC raised its holdings in Caterpillar by 149.6% during the third quarter. ZEGA Investments LLC now owns 4,184 shares of the industrial products company’s stock worth $1,996,000 after purchasing an additional 2,508 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in Caterpillar by 2.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 165,677 shares of the industrial products company’s stock worth $79,053,000 after purchasing an additional 4,010 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Caterpillar news, CAO William E. Schaupp sold 972 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $764.20, for a total transaction of $742,802.40. Following the completion of the sale, the chief accounting officer owned 824 shares of the company’s stock, valued at approximately $629,700.80. The trade was a 54.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 7,891 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $776.90, for a total value of $6,130,517.90. Following the sale, the insider directly owned 46,643 shares of the company’s stock, valued at approximately $36,236,946.70. This trade represents a 14.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 125,950 shares of company stock valued at $88,577,390 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $720.84 on Tuesday. The business has a fifty day simple moving average of $717.23 and a 200-day simple moving average of $616.99. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $789.81. The company has a quick ratio of 0.94, a current ratio of 1.44 and a debt-to-equity ratio of 1.44. The company has a market cap of $335.40 billion, a P/E ratio of 38.30, a P/E/G ratio of 1.69 and a beta of 1.52.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.49. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.The firm had revenue of $19.13 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the business earned $5.14 earnings per share. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. Equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CAT shares. Raymond James Financial reaffirmed a “market perform” rating on shares of Caterpillar in a report on Wednesday, January 7th. Citigroup boosted their price target on Caterpillar from $760.00 to $785.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Bank of America boosted their price target on Caterpillar from $735.00 to $825.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Sanford C. Bernstein reissued a “market perform” rating and issued a $678.00 price target on shares of Caterpillar in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. boosted their price target on Caterpillar from $765.00 to $860.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Sixteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $737.55.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.