Uniting Wealth Partners LLC Buys Shares of 969 Caterpillar Inc. (NYSE:CAT)

Uniting Wealth Partners LLC purchased a new position in Caterpillar Inc. (NYSE:CAT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 969 shares of the industrial products company’s stock, valued at approximately $352,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Caterpillar by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock valued at $16,980,629,000 after acquiring an additional 284,366 shares during the period. Geode Capital Management LLC boosted its holdings in 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 worth $3,790,841,000 after purchasing an additional 236,315 shares during the last quarter. Fisher Asset Management LLC grew its position in Caterpillar by 1.4% in the 4th 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 during the period. Norges Bank purchased 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% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,289,101 shares of the industrial products company’s stock valued at $1,193,154,000 after buying an additional 61,723 shares during the period. 70.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. 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 report on Monday, February 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Wedbush upgraded shares of Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Finally, Truist Financial reduced their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $383.80.

Caterpillar Stock Up 1.4 %

Shares of CAT stock opened at $335.16 on Thursday. The company’s fifty day simple moving average is $351.26 and its two-hundred day simple moving average is $372.07. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50. The stock has a market cap of $160.18 billion, a P/E ratio of 15.19, a PEG ratio of 1.87 and a beta of 1.15. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last posted its 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%. Analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Activity at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the transaction, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the sale, the insider now owns 6,275 shares in the company, valued at approximately $2,225,742.50. This trade 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.