56,198 Shares in Caterpillar Inc. (NYSE:CAT) Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 56,198 shares of the industrial products company’s stock, valued at approximately $20,386,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Rakuten Securities Inc. raised its stake in shares of Caterpillar by 20.3% during the fourth quarter. Rakuten Securities Inc. now owns 184 shares of the industrial products company’s stock worth $67,000 after buying an additional 31 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in Caterpillar by 3.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 47,425 shares of the industrial products company’s stock valued at $17,204,000 after purchasing an additional 1,659 shares in the last quarter. Essential Planning LLC. bought a new stake in Caterpillar in the fourth quarter valued at approximately $655,000. Great Lakes Advisors LLC increased its stake in Caterpillar by 2.4% in the fourth quarter. Great Lakes Advisors LLC now owns 300,906 shares of the industrial products company’s stock valued at $109,156,000 after purchasing an additional 7,160 shares in the last quarter. Finally, Truvestments Capital LLC increased its stake in Caterpillar by 3.7% in the fourth quarter. Truvestments Capital LLC now owns 10,196 shares of the industrial products company’s stock valued at $3,699,000 after purchasing an additional 366 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on CAT shares. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and upped their target price for the company from $355.00 to $385.00 in a research note on Monday, February 3rd. Wedbush raised shares of Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Truist Financial lowered their price objective on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Two research 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 MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $383.80.

Caterpillar Stock Performance

Shares of CAT opened at $333.26 on Friday. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50. The firm has a fifty day simple moving average of $361.27 and a 200 day simple moving average of $372.42. The stock has a market capitalization of $159.28 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 1.87 and a beta of 1.15. 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 announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping 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%. Research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Buying and Selling

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the sale, the insider now owns 6,275 shares in the company, valued at $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was purchased at an average price of $365.57 per share, with a total value of $36,557.00. Following the purchase, the director now owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. The trade was 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 currently 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.