Citizens Financial Group Inc. RI Grows Stock Position in Caterpillar Inc. (NYSE:CAT)

Citizens Financial Group Inc. RI boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 37.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,097 shares of the industrial products company’s stock after buying an additional 5,195 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Caterpillar were worth $6,928,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Caterpillar by 0.7% in the third quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock worth $3,987,206,000 after buying an additional 67,148 shares during the period. Fisher Asset Management LLC raised its stake in Caterpillar by 1.4% during 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 acquiring an additional 129,143 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Caterpillar by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock valued at $1,418,793,000 after purchasing an additional 64,452 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Caterpillar by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,289,101 shares of the industrial products company’s stock worth $1,193,154,000 after purchasing an additional 61,723 shares in the last quarter. Finally, Amundi raised its position in shares of Caterpillar by 17.3% during the 4th quarter. Amundi now owns 2,166,087 shares of the industrial products company’s stock valued at $782,109,000 after purchasing an additional 318,891 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Jason Kaiser sold 2,425 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the sale, the insider now directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. This represents a 27.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were acquired at an average price of $365.57 per share, with a total value of $36,557.00. Following the transaction, the director now directly owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. This trade represents a 3.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CAT shares. Morgan Stanley decreased their price target on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Bank of America decreased their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and upped their price target for the stock from $355.00 to $385.00 in a research note on Monday, February 3rd. Truist Financial reduced their price objective on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Finally, Evercore ISI upped their target price on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $383.80.

Caterpillar Stock Down 1.6 %

Shares of NYSE:CAT opened at $339.66 on Wednesday. The company has a market cap of $162.33 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The company has a 50-day moving average price of $362.29 and a 200 day moving average price of $372.93.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Company 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.