CoreFirst Bank & Trust Buys New Position in Caterpillar Inc. (NYSE:CAT)

CoreFirst Bank & Trust purchased a new position in Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,236 shares of the industrial products company’s stock, valued at approximately $448,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB increased its position in shares of Caterpillar by 1.6% during the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after purchasing an additional 10,212 shares during the period. West Wealth Group LLC acquired a new position in Caterpillar during the fourth quarter worth about $230,000. Cadinha & Co. LLC acquired a new stake in Caterpillar in the 4th quarter valued at about $11,084,000. Atomi Financial Group Inc. boosted its position in shares of Caterpillar by 3.9% during the 4th quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock valued at $8,414,000 after purchasing an additional 871 shares in the last quarter. Finally, Copley Financial Group Inc. acquired a new position in shares of Caterpillar in the 3rd quarter worth approximately $800,000. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CAT shares. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and raised their target price for the stock from $355.00 to $385.00 in a report on Monday, February 3rd. Jefferies Financial Group lifted their target price on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Evercore ISI upped their target price on Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Bank of America decreased their target price on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a report on Friday, January 31st. Two 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 MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $383.80.

Insider Activity

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

Caterpillar Stock Performance

Shares of NYSE CAT opened at $341.83 on Tuesday. Caterpillar Inc. has a one year low of $307.05 and a one year high of $418.50. The business’s 50-day moving average price is $358.19 and its two-hundred day moving average price is $372.36. 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 company has a market capitalization of $163.37 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15.

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

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.