Bowen Hanes & Co. Inc. Acquires 30,835 Shares of Caterpillar Inc. (NYSE:CAT)

Bowen Hanes & Co. Inc. boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 388.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,779 shares of the industrial products company’s stock after purchasing an additional 30,835 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Caterpillar were worth $14,067,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CAT. Nordea Investment Management AB increased its position in shares of Caterpillar by 1.6% in the fourth quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after acquiring an additional 10,212 shares during the period. West Wealth Group LLC purchased a new position in shares of Caterpillar during the fourth quarter valued at about $230,000. Citizens Financial Group Inc. RI increased its position in shares of Caterpillar by 43.0% during the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after buying an additional 4,181 shares during the period. Cadinha & Co. LLC purchased a new position in shares of Caterpillar during the fourth quarter valued at about $11,084,000. Finally, Atomi Financial Group Inc. increased its position in shares of Caterpillar by 3.9% during the fourth quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock valued at $8,414,000 after buying an additional 871 shares during the period. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Down 0.4 %

Shares of Caterpillar stock opened at $338.50 on Thursday. The company has a market cap of $161.78 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The company’s 50 day moving average is $361.80 and its 200 day moving average is $372.69. Caterpillar Inc. has a twelve month low of $307.05 and a twelve month high of $418.50. 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 announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Analyst Ratings Changes

CAT has been the topic of several research analyst reports. Evercore ISI boosted their price target on shares of Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $355.00 to $385.00 in a report on Monday, February 3rd. Citigroup upped their price objective on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a report 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. Finally, Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a report 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.com, Caterpillar currently has an average rating of “Hold” and an average price target of $383.80.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction on Tuesday, February 4th. The stock was acquired at an average cost of $365.57 per share, with a total value of $36,557.00. Following the completion of the acquisition, the director now owns 3,053 shares in the company, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate 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.