Harvest Fund Management Co. Ltd Raises Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Harvest Fund Management Co. Ltd raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 67.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,769 shares of the industrial products company’s stock after buying an additional 1,114 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Caterpillar were worth $1,005,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FSM Wealth Advisors LLC boosted its stake in Caterpillar by 3.8% during the fourth quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 25 shares in the last quarter. Allen Capital Group LLC grew its stake in shares of Caterpillar by 0.6% in the 4th quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock worth $1,541,000 after buying an additional 26 shares during the last quarter. Wagner Wealth Management LLC increased its position in Caterpillar by 4.0% during the 4th quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock valued at $242,000 after buying an additional 26 shares in the last quarter. Channel Wealth LLC raised its stake in Caterpillar by 1.9% during the fourth quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company’s stock valued at $533,000 after buying an additional 27 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. boosted its holdings in Caterpillar by 0.6% in the fourth quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company’s stock worth $1,586,000 after acquiring an additional 27 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the transaction, the insider now owns 6,275 shares in the company, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now 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. Insiders own 0.29% of the company’s stock.

Caterpillar Stock Up 0.6 %

Shares of CAT stock opened at $338.60 on Thursday. The company has a 50 day simple moving average of $359.41 and a two-hundred day simple moving average of $372.23. The stock has a market cap of $161.83 billion, a P/E ratio of 15.34, a P/E/G ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month 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.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Truist Financial lowered their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. DA Davidson upped their target price on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and upped their price objective for the company from $355.00 to $385.00 in a research report on Monday, February 3rd. Finally, Bank of America reduced their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a report on Friday, January 31st. Two equities research 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $383.80.

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.