Allstate Corp Invests $5.22 Million in Caterpillar Inc. (NYSE:CAT)

Allstate Corp acquired a new stake in Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,393 shares of the industrial products company’s stock, valued at approximately $5,221,000.

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

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was bought at an average cost of $365.57 per share, with a total value of $36,557.00. Following the transaction, the director now directly owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. This trade represents a 3.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CAT. Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Wedbush upgraded Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Morgan Stanley lowered their price target on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a report on Friday, January 31st. DA Davidson boosted their price objective on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Truist Financial lowered their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $383.80.

Caterpillar Trading Down 2.8 %

CAT opened at $329.65 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The firm has a market cap of $157.55 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The business’s 50 day moving average is $354.99 and its two-hundred day moving average is $371.98. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results 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%. On average, research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current 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.