iA Global Asset Management Inc. Boosts Stock Position in Caterpillar Inc. (NYSE:CAT)

iA Global Asset Management Inc. increased its stake in Caterpillar Inc. (NYSE:CAT) by 5.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,836 shares of the industrial products company’s stock after buying an additional 956 shares during the period. iA Global Asset Management Inc.’s holdings in Caterpillar were worth $6,833,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAT. Wilkins Investment Counsel Inc. boosted its stake in Caterpillar by 36.9% during the 4th quarter. Wilkins Investment Counsel Inc. now owns 4,270 shares of the industrial products company’s stock valued at $1,549,000 after purchasing an additional 1,150 shares during the last quarter. Fiduciary Group LLC boosted its stake in Caterpillar by 3.7% during the 4th quarter. Fiduciary Group LLC now owns 2,278 shares of the industrial products company’s stock valued at $826,000 after purchasing an additional 82 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Caterpillar by 38.2% during the 4th quarter. Teacher Retirement System of Texas now owns 256,626 shares of the industrial products company’s stock valued at $93,094,000 after purchasing an additional 70,915 shares during the last quarter. Generali Investments Management Co LLC purchased a new stake in Caterpillar during the 4th quarter valued at $880,000. Finally, Harvest Fund Management Co. Ltd boosted its stake in Caterpillar by 67.3% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,769 shares of the industrial products company’s stock valued at $1,005,000 after purchasing an additional 1,114 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 0.7 %

Shares of CAT stock opened at $336.09 on Friday. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The firm has a market capitalization of $160.63 billion, a PE ratio of 15.23, a PEG ratio of 1.87 and a beta of 1.15. The stock has a fifty day simple moving average of $358.92 and a two-hundred day simple moving average of $371.98.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on CAT shares. Truist Financial lowered their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and increased their price target for the company from $355.00 to $385.00 in a report on Monday, February 3rd. Bank of America lowered their price target on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Evercore ISI increased their price target on Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Finally, Wedbush raised Caterpillar to an “outperform” rating in a report on Monday, February 3rd. Two investment 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $383.80.

Insider Activity

In related news, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

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.