OVERSEA CHINESE BANKING Corp Ltd Has $1.75 Million Stake in Caterpillar Inc. (NYSE:CAT)

OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Caterpillar Inc. (NYSE:CAT) by 198.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,803 shares of the industrial products company’s stock after buying an additional 3,192 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Caterpillar were worth $1,747,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Flagship Wealth Advisors LLC acquired a new stake in Caterpillar in the 4th quarter valued at $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Caterpillar in the 4th quarter valued at $27,000. Noble Wealth Management PBC acquired a new position in Caterpillar in the fourth quarter worth $31,000. Retirement Wealth Solutions LLC acquired a new position in Caterpillar in the fourth quarter worth $34,000. Finally, Albion Financial Group UT boosted its stake in Caterpillar by 334.8% in the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Up 0.6 %

NYSE CAT opened at $338.60 on Thursday. The stock has a 50-day simple moving average of $359.41 and a 200 day simple moving average of $372.23. The company has a market capitalization of $161.83 billion, a PE ratio of 15.34, a P/E/G ratio of 1.87 and a beta of 1.15. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CAT shares. 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. Wedbush raised Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Jefferies Financial Group boosted their price objective on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Evercore ISI upped their price target 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, UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and upped their price target for the company from $355.00 to $385.00 in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $383.80.

Insiders Place Their Bets

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Thursday, January 16th. The stock was 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 in the company, valued at $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gerald Johnson purchased 100 shares of the stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $365.57 per share, with a total value of $36,557.00. Following the completion of the acquisition, the director now directly owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

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.