Summit Global Investments Boosts Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Summit Global Investments grew its position in shares of Caterpillar Inc. (NYSE:CAT) by 20.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,220 shares of the industrial products company’s stock after purchasing an additional 377 shares during the quarter. Summit Global Investments’ holdings in Caterpillar were worth $805,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CAT. Raymond James Financial Inc. acquired a new stake in Caterpillar in the 4th quarter valued at $353,231,000. Proficio Capital Partners LLC grew its stake in Caterpillar by 50,072.7% in the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock valued at $291,938,000 after acquiring an additional 803,166 shares during the period. Amundi grew its stake in Caterpillar by 17.3% in the 4th quarter. Amundi now owns 2,166,087 shares of the industrial products company’s stock valued at $782,109,000 after acquiring an additional 318,891 shares during the period. Zurich Insurance Group Ltd FI grew its stake in Caterpillar by 4,018.6% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock valued at $99,874,000 after acquiring an additional 249,155 shares during the period. Finally, Strategic Financial Concepts LLC grew its stake in Caterpillar by 36,168.5% in the 4th quarter. Strategic Financial Concepts LLC now owns 227,041 shares of the industrial products company’s stock valued at $82,361,000 after acquiring an additional 226,415 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Down 0.2 %

Shares of CAT opened at $335.49 on Monday. The firm has a market cap of $160.34 billion, a P/E ratio of 15.20, a price-to-earnings-growth 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’s 50-day moving average price is $358.61 and its 200 day moving average price is $372.30. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last issued 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 net margin of 16.65% and a return on equity of 58.18%. On average, sell-side analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Activity at Caterpillar

In related news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 4th. The shares were purchased at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’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 sale, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. This trade 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 insiders.

Analysts Set New Price Targets

CAT has been the topic of a number of research analyst reports. Bank of America dropped their price target on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Morgan Stanley lowered their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Citigroup lifted their target price on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. DA Davidson lifted their target price on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group lifted their target price on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $383.80.

About Caterpillar

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.