Summit Financial LLC Acquires 853 Shares of Caterpillar Inc. (NYSE:CAT)

Summit Financial LLC grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,737 shares of the industrial products company’s stock after buying an additional 853 shares during the quarter. Summit Financial LLC’s holdings in Caterpillar were worth $13,689,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CAT. Norges Bank purchased a new stake in shares of Caterpillar during the fourth quarter valued at approximately $2,184,364,000. Raymond James Financial Inc. bought a new stake in Caterpillar during the 4th quarter valued at $353,231,000. Proficio Capital Partners LLC boosted its position in Caterpillar by 50,072.7% during 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 grew its holdings in Caterpillar by 17.3% in the 4th 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. raised its stake in shares of Caterpillar by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock valued at $16,980,629,000 after acquiring an additional 284,366 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the transaction, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar 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 of the company’s stock, valued at $2,225,742.50. The trade was a 27.87 % 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.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $329.65 on Monday. The company has a market capitalization of $157.55 billion, a PE ratio of 14.94, a PEG ratio of 1.87 and a beta of 1.15. The business has a fifty day moving average price of $354.99 and a 200-day moving average price of $372.50. Caterpillar Inc. has a 1-year low of $307.05 and a 1-year 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.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (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, equities 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 research analyst reports. Wedbush upgraded Caterpillar to an “outperform” rating in a report on Monday, February 3rd. DA Davidson upped their target price on Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Morgan Stanley dropped their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Finally, StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $383.80.

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.