ExodusPoint Capital Management LP Purchases New Shares in Caterpillar Inc. (NYSE:CAT)

ExodusPoint Capital Management LP acquired a new position in Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 22,423 shares of the industrial products company’s stock, valued at approximately $8,134,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Grant Private Wealth Management Inc purchased a new position in Caterpillar during the 4th quarter valued at about $304,000. Arete Wealth Advisors LLC lifted its holdings in shares of Caterpillar by 7.9% during the fourth quarter. Arete Wealth Advisors LLC now owns 7,147 shares of the industrial products company’s stock valued at $2,598,000 after purchasing an additional 525 shares during the last quarter. World Investment Advisors boosted its position in shares of Caterpillar by 157.4% in the 4th quarter. World Investment Advisors now owns 10,327 shares of the industrial products company’s stock worth $3,746,000 after purchasing an additional 6,315 shares in the last quarter. Westpac Banking Corp grew its stake in shares of Caterpillar by 2.3% in the 4th quarter. Westpac Banking Corp now owns 8,767 shares of the industrial products company’s stock worth $3,180,000 after buying an additional 193 shares during the last quarter. Finally, Disciplined Investors L.L.C. bought a new position in Caterpillar during the 4th quarter valued at approximately $602,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other 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 directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. This trade 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 company insiders.

Caterpillar Trading Down 5.9 %

Shares of Caterpillar stock opened at $287.57 on Friday. Caterpillar Inc. has a 1-year low of $281.50 and a 1-year high of $418.50. The company’s fifty day simple moving average is $346.83 and its 200-day simple moving average is $371.19. 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 stock has a market capitalization of $137.44 billion, a PE ratio of 13.03, a P/E/G ratio of 1.87 and a beta of 1.15.

Caterpillar (NYSE:CAT) last released its quarterly 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 return on equity of 58.18% and a net margin of 16.65%. As a group, equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Evercore ISI increased their target price on Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Citigroup raised their price objective on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Bank of America dropped their target price 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. Truist Financial decreased their price objective on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Finally, UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and increased their target price for the company from $355.00 to $385.00 in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.