Caterpillar Inc. (NYSE:CAT) Shares Acquired by AIA Group Ltd

AIA Group Ltd increased its position in Caterpillar Inc. (NYSE:CAT) by 14.2% in the fourth quarter, HoldingsChannel reports. The firm owned 37,312 shares of the industrial products company’s stock after acquiring an additional 4,643 shares during the period. AIA Group Ltd’s holdings in Caterpillar were worth $13,535,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in shares of Caterpillar during the 4th quarter worth about $2,184,364,000. Raymond James Financial Inc. acquired a new position in shares of Caterpillar during the fourth quarter worth approximately $353,231,000. Proficio Capital Partners LLC boosted its position in shares of Caterpillar by 50,072.7% in the fourth quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock valued at $291,938,000 after acquiring an additional 803,166 shares during the period. Amundi grew its stake in shares of Caterpillar by 17.3% in the fourth quarter. Amundi now owns 2,166,087 shares of the industrial products company’s stock worth $782,109,000 after acquiring an additional 318,891 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Caterpillar by 0.6% during the fourth 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. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 2.8 %

NYSE CAT opened at $329.65 on Monday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50. The stock has a market capitalization of $157.55 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The stock has a fifty day moving average of $354.99 and a 200-day moving average of $372.50.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. On average, equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was 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 owns 6,275 shares in the company, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CAT shares. DA Davidson increased their target price on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Truist Financial reduced 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. JPMorgan Chase & Co. cut their target price on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Citigroup lifted their price target on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Bank of America dropped their price objective on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.