Graney & King LLC Acquires Shares of 308 Caterpillar Inc. (NYSE:CAT)

Graney & King LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT) during the fourth quarter, Holdings Channel.com reports. The fund bought 308 shares of the industrial products company’s stock, valued at approximately $112,000.

Several other hedge funds have also bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in Caterpillar by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company’s stock valued at $285,382,000 after purchasing an additional 5,371 shares during the last quarter. Davis R M Inc. boosted its position in shares of Caterpillar by 15.5% during the third quarter. Davis R M Inc. now owns 3,601 shares of the industrial products company’s stock valued at $1,409,000 after buying an additional 482 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in Caterpillar by 120.4% during the third quarter. Loomis Sayles & Co. L P now owns 3,854 shares of the industrial products company’s stock worth $1,507,000 after buying an additional 2,105 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in Caterpillar by 31.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 13,250 shares of the industrial products company’s stock valued at $5,182,000 after acquiring an additional 3,142 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new position in Caterpillar during the 3rd quarter worth $1,123,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup upped their target price on Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a report 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 research report on Friday, January 31st. JPMorgan Chase & Co. decreased their price objective on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Bank of America lowered their price target on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Truist Financial reduced their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $383.80.

Insider Activity

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the 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 completion of the sale, the insider now owns 6,275 shares in the company, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were 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 directly owns 45,182 shares in the company, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Caterpillar Stock Up 0.3 %

CAT stock opened at $342.65 on Wednesday. The company’s 50 day moving average is $357.63 and its 200 day moving average is $372.46. The stock has a market cap of $163.76 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 1-year low of $307.05 and a 1-year high of $418.50.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

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.