Canopy Partners LLC Grows Position in Caterpillar Inc. (NYSE:CAT)

Canopy Partners LLC increased its holdings in Caterpillar Inc. (NYSE:CAT) by 84.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,581 shares of the industrial products company’s stock after buying an additional 2,096 shares during the quarter. Canopy Partners LLC’s holdings in Caterpillar were worth $1,662,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAT. Nordea Investment Management AB increased its position in shares of Caterpillar by 1.6% during the fourth quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock worth $231,686,000 after purchasing an additional 10,212 shares in the last quarter. West Wealth Group LLC purchased a new stake in Caterpillar in the fourth quarter valued at approximately $230,000. Cadinha & Co. LLC purchased a new position in shares of Caterpillar in the fourth quarter valued at approximately $11,084,000. Atomi Financial Group Inc. grew its stake in shares of Caterpillar by 3.9% in the fourth quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock worth $8,414,000 after acquiring an additional 871 shares in the last quarter. Finally, Copley Financial Group Inc. acquired a new position in shares of Caterpillar during the third quarter worth about $800,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

Shares of CAT stock opened at $287.57 on Monday. 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 firm has a market cap of $137.44 billion, a price-to-earnings ratio of 13.03, a P/E/G ratio of 1.87 and a beta of 1.21. Caterpillar Inc. has a one year low of $269.43 and a one year high of $418.50. The stock’s fifty day simple moving average is $346.83 and its 200 day simple moving average is $371.43.

Caterpillar (NYSE:CAT) last issued its earnings results 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, analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Activity at Caterpillar

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Truist Financial dropped their price target on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $355.00 to $385.00 in a research note on Monday, February 3rd. Evercore ISI increased their price target on shares of Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Bank of America reduced their price objective on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Wedbush raised shares of Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $383.80.

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.