Modern Wealth Management LLC Has $3.61 Million Stake in Caterpillar Inc. (NYSE:CAT)

Modern Wealth Management LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 12.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,935 shares of the industrial products company’s stock after buying an additional 1,087 shares during the quarter. Modern Wealth Management LLC’s holdings in Caterpillar were worth $3,608,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CAT. Raymond James Financial Inc. acquired a new stake in shares of Caterpillar during the 4th quarter worth $353,231,000. Proficio Capital Partners LLC grew its stake in Caterpillar by 50,072.7% during the fourth quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock worth $291,938,000 after buying an additional 803,166 shares in the last quarter. Amundi increased 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 valued at $782,109,000 after buying an additional 318,891 shares during the period. Vanguard Group Inc. raised its position in shares of Caterpillar by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock valued at $16,980,629,000 after buying an additional 284,366 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI lifted its holdings in shares of Caterpillar by 4,018.6% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock worth $99,874,000 after acquiring an additional 249,155 shares during the period. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CAT shares. Citigroup boosted their price objective on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Jefferies Financial Group upped their price objective on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Truist Financial lowered their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Bank of America reduced their price target on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Morgan Stanley lowered their price objective 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $383.80.

Insider Transactions at Caterpillar

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the stock in a transaction on Tuesday, February 4th. The stock was acquired at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the acquisition, the director now owns 3,053 shares in the company, valued at $1,116,085.21. This trade represents a 3.39 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 45,182 shares in the company, 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 corporate insiders.

Caterpillar Trading Up 0.3 %

NYSE CAT opened at $342.65 on Wednesday. The firm has a market capitalization of $163.76 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The business’s 50-day moving average price is $357.63 and its two-hundred day moving average price is $372.46. 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 12 month low of $307.05 and a 12 month high of $418.50.

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 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, analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar 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.