Harvest Fund Management Co. Ltd Increases Stock Position in Caterpillar Inc. (NYSE:CAT)

Harvest Fund Management Co. Ltd grew its position in shares of Caterpillar Inc. (NYSE:CAT) by 67.3% in the fourth quarter, HoldingsChannel reports. 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 reporting period.

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

Caterpillar Stock Performance

Shares of CAT stock opened at $338.60 on Thursday. Caterpillar Inc. has a 12-month low of $307.05 and a 12-month high of $418.50. The business’s fifty day simple moving average is $359.41 and its 200-day simple moving average is $372.23. 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 $161.83 billion, a PE ratio of 15.34, a PEG ratio of 1.87 and a beta of 1.15.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) 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%. Analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Activity at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s 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 transaction, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were purchased at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the purchase, the director now owns 3,053 shares in the company, valued at approximately $1,116,085.21. The trade was a 3.39 % increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on CAT. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. Morgan Stanley cut their target price on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. lowered their price target on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. DA Davidson increased their target price on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Bank of America cut their price target on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.