Parallel Advisors LLC Acquires 791 Shares of Caterpillar Inc. (NYSE:CAT)

Parallel Advisors LLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 8.5% during the 4th quarter, Holdings Channel reports. The firm owned 10,096 shares of the industrial products company’s stock after purchasing an additional 791 shares during the quarter. Parallel Advisors LLC’s holdings in Caterpillar were worth $3,663,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Halbert Hargrove Global Advisors LLC bought a new position in Caterpillar in the fourth quarter worth approximately $27,000. Noble Wealth Management PBC bought a new position in Caterpillar in the fourth quarter worth approximately $31,000. Retirement Wealth Solutions LLC bought a new position in Caterpillar in the fourth quarter worth approximately $34,000. Albion Financial Group UT boosted its holdings in Caterpillar by 334.8% in the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 77 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in Caterpillar in the fourth quarter worth approximately $36,000. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

CAT has been the topic of a number of recent research reports. Bank of America dropped their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Raymond James upgraded Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Wedbush upgraded Caterpillar to an “outperform” rating in a report on Monday, February 3rd. Jefferies Financial Group raised their target price on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. decreased their price target on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $383.80.

Insider Transactions at Caterpillar

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average price of $365.57 per share, with a total value of $36,557.00. Following the completion of the purchase, the director now owns 3,053 shares of the company’s stock, 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 legal filing with the SEC, which is available through this link. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar 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 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 disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $342.66 on Tuesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The business has a fifty day simple moving average of $360.39 and a two-hundred day simple moving average of $372.60. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. The company has a market capitalization of $163.77 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.87 and a beta of 1.15.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping 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 expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

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.