Bridges Investment Management Inc. grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 21.0% in the 4th quarter, Holdings Channel reports. The firm owned 7,936 shares of the industrial products company’s stock after acquiring an additional 1,376 shares during the quarter. Bridges Investment Management Inc.’s holdings in Caterpillar were worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently bought and sold shares of CAT. Shine Investment Advisory Services Inc. lifted its position in Caterpillar by 143.1% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 175 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 103 shares during the period. FNY Investment Advisers LLC acquired a new stake in Caterpillar in the fourth quarter worth approximately $29,000. Savior LLC acquired a new stake in Caterpillar in the fourth quarter worth approximately $36,000. Howard Wealth Management LLC acquired a new stake in shares of Caterpillar during the 4th quarter valued at $37,000. Finally, Great Diamond Partners LLC acquired a new stake in shares of Caterpillar during the 4th quarter valued at $37,000. 67.12% of the stock is owned by institutional investors.
CAT stock opened at $104.67 on Thursday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.47 and a quick ratio of 1.05. Caterpillar Inc. has a 52-week low of $87.50 and a 52-week high of $150.55. The company has a 50-day moving average of $121.24 and a two-hundred day moving average of $134.35. The stock has a market capitalization of $55.75 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 1.20 and a beta of 1.44.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.37 by $0.26. Caterpillar had a net margin of 11.32% and a return on equity of 41.85%. The company had revenue of $13.14 billion during the quarter, compared to analysts’ expectations of $13.42 billion. During the same period in the prior year, the company earned $2.55 earnings per share. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. Equities analysts expect that Caterpillar Inc. will post 8.75 EPS for the current fiscal year.
In other Caterpillar news, CAO Gary Michael Marvel sold 589 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $137.83, for a total transaction of $81,181.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is owned by corporate insiders.
A number of brokerages have recently commented on CAT. Daiwa Capital Markets upgraded Caterpillar from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $143.00 to $165.00 in a research report on Tuesday, January 21st. Stifel Nicolaus raised shares of Caterpillar from a “hold” rating to a “buy” rating and dropped their price target for the stock from $140.00 to $137.00 in a research note on Monday, March 16th. Wells Fargo & Co dropped their price target on shares of Caterpillar from $150.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 17th. Bank of America dropped their price target on shares of Caterpillar from $150.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Finally, Goldman Sachs Group upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $156.00 to $168.00 in a report on Thursday, February 13th. Five 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 stock. The stock presently has an average rating of “Hold” and a consensus target price of $134.89.
Caterpillar Company Profile
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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