Grantvest Financial Group LLC Buys New Position in Caterpillar Inc. (NYSE:CAT)

Grantvest Financial Group LLC purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 797 shares of the industrial products company’s stock, valued at approximately $289,000.

A number of other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Caterpillar in the fourth quarter valued at $353,231,000. Proficio Capital Partners LLC grew its holdings in Caterpillar by 50,072.7% in the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock valued at $291,938,000 after buying an additional 803,166 shares during the period. Amundi increased its stake in shares of Caterpillar by 17.3% during the 4th quarter. Amundi now owns 2,166,087 shares of the industrial products company’s stock valued at $782,109,000 after acquiring an additional 318,891 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Caterpillar by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock worth $16,980,629,000 after acquiring an additional 284,366 shares during the period. Finally, Zurich Insurance Group Ltd FI boosted its position in shares of Caterpillar by 4,018.6% in the third quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock worth $99,874,000 after acquiring an additional 249,155 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Down 0.2 %

CAT opened at $335.49 on Monday. Caterpillar Inc. has a 12-month low of $307.05 and a 12-month high of $418.50. 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 $160.34 billion, a PE ratio of 15.20, a P/E/G ratio of 1.87 and a beta of 1.15. The firm’s fifty day moving average price is $358.61 and its 200 day moving average price is $372.30.

Caterpillar (NYSE:CAT) last issued its quarterly 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%. As a group, research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Analysts Set New Price Targets

CAT has been the topic of a number of recent analyst reports. Wedbush raised shares of Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Bank of America dropped their price target on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Morgan Stanley decreased their target price on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Finally, DA Davidson lifted their price target on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $383.80.

Insider Activity

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This represents a 18.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the transaction, the insider now directly owns 6,275 shares in the company, valued at $2,225,742.50. This represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

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.