Patten & Patten Inc. TN Has $1.27 Million Stake in Caterpillar Inc. (NYSE:CAT)

Patten & Patten Inc. TN trimmed its holdings in shares of Caterpillar Inc. (NYSE:CATFree Report) by 5.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,310 shares of the industrial products company’s stock after selling 268 shares during the period. Patten & Patten Inc. TN’s holdings in Caterpillar were worth $1,274,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Gilfoyle & Co LLC bought a new position in Caterpillar during the 4th quarter valued at about $30,000. Atlas Capital Advisors LLC grew its position 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 buying an additional 79 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Caterpillar by 730.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 95 shares during the period. First Capital Advisors Group LLC. bought a new position in Caterpillar in the second quarter valued at approximately $30,000. Finally, CGC Financial Services LLC bought a new position in Caterpillar in the second quarter valued at approximately $31,000. 70.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the firm’s 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 completion of the transaction, the insider now owns 23,474 shares in the company, valued at approximately $7,741,725.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Anthony D. Fassino sold 4,575 shares of the firm’s 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 completion of the sale, the insider now owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’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 transaction of $3,000,400.00. Following the sale, the chief financial officer now directly owns 67,317 shares of the company’s stock, valued at approximately $20,197,792.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,769 shares of company stock worth $14,509,306. 0.33% of the stock is currently owned by insiders.

Caterpillar Trading Up 0.3 %

CAT stock opened at $364.97 on Wednesday. The company has a market capitalization of $182.27 billion, a PE 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 quick ratio of 0.87 and a current ratio of 1.35. Caterpillar Inc. has a 52 week low of $204.04 and a 52 week high of $367.93. The company’s 50-day simple moving average is $331.80 and its 200 day simple moving average is $289.64.

Caterpillar (NYSE:CATGet Free Report) last announced its quarterly earnings data on Monday, February 5th. The industrial products company reported $5.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.76 by $0.47. The firm had revenue of $17.07 billion for the quarter, compared to the consensus estimate of $17.06 billion. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.86 earnings per share. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 21.25 earnings per share for the current year.

Analyst Ratings Changes

CAT has been the topic of a number of research reports. Stifel Nicolaus boosted their price objective on shares of Caterpillar from $285.00 to $293.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. The Goldman Sachs Group upped their price target 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. TD Cowen upped their price target 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. upped their price target 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. Finally, Wells Fargo & Company upped their price objective on shares of Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $297.89.

Check Out Our Latest Report on CAT

Caterpillar Company Profile

(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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