SlateStone Wealth LLC Grows Stock Holdings in Caterpillar Inc. (NYSE:CAT)

by · The Cerbat Gem

SlateStone Wealth LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,267 shares of the industrial products company’s stock after buying an additional 931 shares during the period. Caterpillar comprises 1.4% of SlateStone Wealth LLC’s portfolio, making the stock its 12th largest holding. SlateStone Wealth LLC’s holdings in Caterpillar were worth $14,607,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CAT. Raymond James Financial Inc. purchased a new stake in Caterpillar during the fourth quarter worth about $353,231,000. Proficio Capital Partners LLC lifted its holdings 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 purchasing an additional 803,166 shares in the last quarter. Amundi lifted its holdings 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 valued at $782,109,000 after purchasing an additional 318,891 shares in the last quarter. Zurich Insurance Group Ltd FI lifted its holdings in shares of Caterpillar by 4,018.6% in the third quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock valued at $99,874,000 after purchasing an additional 249,155 shares in the last quarter. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of Caterpillar by 36,168.5% in the fourth quarter. Strategic Financial Concepts LLC now owns 227,041 shares of the industrial products company’s stock valued at $82,361,000 after purchasing an additional 226,415 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the transaction, the insider now directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. The trade was a 27.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were 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. The trade was a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Caterpillar Stock Performance

Shares of CAT stock opened at $340.46 on Friday. The company’s fifty day simple moving average is $360.81 and its 200-day simple moving average is $372.49. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The company has a market cap of $162.72 billion, a PE ratio of 15.43, a P/E/G ratio of 1.87 and a beta of 1.15.

Caterpillar (NYSE:CAT – Get Free Report) last issued its earnings results on Thursday, January 30th. The industrial products company reported $5.14 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%. As a group, equities research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Wall Street Analyst Weigh In

CAT has been the topic of several recent research reports. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Jefferies Financial Group upped their price target on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. 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 research report on Monday, February 3rd. Bank of America decreased their target price on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Evercore ISI raised their target price on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $383.80.

Check Out Our Latest Stock Analysis on CAT

Caterpillar Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT – Free Report).