Caterpillar Inc. (NYSE:CAT) Shares Acquired by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc raised its position in Caterpillar Inc. (NYSE:CATFree Report) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,467 shares of the industrial products company’s stock after purchasing an additional 1,077 shares during the period. Pinnacle Financial Partners Inc’s holdings in Caterpillar were worth $5,164,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CAT. Waterway Wealth Management LLC acquired a new position in Caterpillar during the fourth quarter worth approximately $352,000. Farmers Trust Co. boosted its holdings in Caterpillar by 2.7% in the fourth quarter. Farmers Trust Co. now owns 4,490 shares of the industrial products company’s stock valued at $1,328,000 after acquiring an additional 120 shares during the last quarter. Panagora Asset Management Inc. increased its stake in Caterpillar by 16.7% during the third quarter. Panagora Asset Management Inc. now owns 367,655 shares of the industrial products company’s stock worth $100,370,000 after acquiring an additional 52,576 shares during the last quarter. Rise Advisors LLC raised its holdings in shares of Caterpillar by 7.8% in the 4th quarter. Rise Advisors LLC now owns 1,074 shares of the industrial products company’s stock worth $318,000 after purchasing an additional 78 shares during the period. Finally, Eagle Asset Management Inc. lifted its stake in shares of Caterpillar by 176.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 27,357 shares of the industrial products company’s stock valued at $7,468,000 after purchasing an additional 17,478 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the sale, the chief financial officer now directly owns 67,317 shares in the company, valued at $20,197,792.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $20,197,792.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Maclennan purchased 350 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were purchased at an average cost of $323.37 per share, with a total value of $113,179.50. Following the completion of the purchase, the director now owns 5,238 shares in the company, valued at approximately $1,693,812.06. The disclosure for this purchase can be found here. Insiders have sold 45,769 shares of company stock valued at $14,509,306 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of Caterpillar in a report on Monday, January 8th. They issued an “equal weight” rating and a $270.00 price target on the stock. Evercore ISI downgraded Caterpillar from an “outperform” rating to an “in-line” rating and increased their price target for the company from $321.00 to $338.00 in a report on Tuesday, February 20th. The Goldman Sachs Group boosted their price objective on Caterpillar from $274.00 to $357.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Citigroup raised their target price on Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Finally, Sanford C. Bernstein upped their price objective on shares of Caterpillar from $216.00 to $245.00 and gave the company a “market perform” rating in a research report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Caterpillar has an average rating of “Hold” and an average price target of $297.89.

View Our Latest Stock Analysis on Caterpillar

Caterpillar Stock Performance

CAT stock traded down $1.00 during mid-day trading on Tuesday, reaching $362.74. The company had a trading volume of 601,458 shares, compared to its average volume of 2,430,898. The stock’s 50-day simple moving average is $330.28 and its two-hundred day simple moving average is $289.03. The stock has a market capitalization of $181.15 billion, a P/E ratio of 18.06, a P/E/G ratio of 1.75 and a beta of 1.17. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25. Caterpillar Inc. has a one year low of $204.04 and a one year high of $367.93.

Caterpillar (NYSE:CATGet Free Report) last posted its earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.76 by $0.47. The firm had revenue of $17.07 billion during 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%. Caterpillar’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.86 EPS. Research analysts anticipate that Caterpillar Inc. will post 21.25 EPS for the current 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.

See Also

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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