Allianz SE Invests $17.34 Million in Caterpillar Inc. (NYSE:CAT)

Allianz SE bought a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 47,764 shares of the industrial products company’s stock, valued at approximately $17,339,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Flagship Wealth Advisors LLC purchased a new position in shares of Caterpillar in the fourth quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Caterpillar during the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC bought a new position in shares of Caterpillar during the fourth quarter worth $27,000. Noble Wealth Management PBC purchased a new position in Caterpillar during the fourth quarter valued at $31,000. Finally, Retirement Wealth Solutions LLC bought a new stake in Caterpillar in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were 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 in the company, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were acquired at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the transaction, the director now directly owns 3,053 shares in the company, valued at $1,116,085.21. This trade represents 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 corporate insiders.

Caterpillar Trading Down 2.8 %

CAT opened at $329.65 on Friday. 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. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50. The business’s 50 day moving average is $354.99 and its two-hundred day moving average is $371.98. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last released 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 return on equity of 58.18% and a net margin of 16.65%. On average, research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CAT shares. Evercore ISI raised their price objective on Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Citigroup upped their price objective on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, January 31st. DA Davidson upped their price target 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. Truist Financial decreased their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Finally, StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Two investment 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $383.80.

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.