OVERSEA CHINESE BANKING Corp Ltd Has $1.75 Million Position in Caterpillar Inc. (NYSE:CAT)

OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 198.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,803 shares of the industrial products company’s stock after purchasing an additional 3,192 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Caterpillar were worth $1,747,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CAT. Flagship Wealth Advisors LLC acquired a new position in Caterpillar during the fourth quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in Caterpillar during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new position in Caterpillar during the fourth quarter valued at approximately $31,000. Retirement Wealth Solutions LLC acquired a new position in Caterpillar during the fourth quarter valued at approximately $34,000. Finally, Whipplewood Advisors LLC acquired a new position in Caterpillar during the fourth quarter valued at approximately $36,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

Shares of NYSE CAT opened at $338.60 on Thursday. The business’s 50 day moving average is $359.41 and its 200-day moving average is $372.23. Caterpillar Inc. has a 1-year low of $307.05 and a 1-year high of $418.50. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The firm has a market cap of $161.83 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share 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%. Equities research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Buying and Selling at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average cost of $365.57 per share, with a total value of $36,557.00. Following the acquisition, the director now directly owns 3,053 shares in the company, valued at $1,116,085.21. This represents a 3.39 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CAT shares. Bank of America reduced their price target on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. cut their price objective on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and raised their price objective for the company from $355.00 to $385.00 in a research report on Monday, February 3rd. Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. Finally, Truist Financial cut their price objective on 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 given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average 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.