Thoroughbred Financial Services LLC Purchases 479 Shares of Caterpillar Inc. (NYSE:CAT)

Thoroughbred Financial Services LLC boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,464 shares of the industrial products company’s stock after purchasing an additional 479 shares during the period. Thoroughbred Financial Services LLC’s holdings in Caterpillar were worth $4,884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of Caterpillar by 0.7% in the third quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company’s stock worth $285,382,000 after buying an additional 5,371 shares during the period. Ascent Group LLC increased its stake in Caterpillar by 19.4% in the third quarter. Ascent Group LLC now owns 1,138 shares of the industrial products company’s stock worth $445,000 after purchasing an additional 185 shares during the period. Reynders McVeigh Capital Management LLC lifted its position in shares of Caterpillar by 9.2% during the third quarter. Reynders McVeigh Capital Management LLC now owns 2,356 shares of the industrial products company’s stock worth $922,000 after purchasing an additional 199 shares during the last quarter. Royal London Asset Management Ltd. boosted its stake in shares of Caterpillar by 11.1% during the third quarter. Royal London Asset Management Ltd. now owns 255,485 shares of the industrial products company’s stock valued at $99,925,000 after purchasing an additional 25,568 shares during the period. Finally, Quantinno Capital Management LP increased its stake in Caterpillar by 70.3% in the 3rd quarter. Quantinno Capital Management LP now owns 69,858 shares of the industrial products company’s stock worth $27,323,000 after buying an additional 28,826 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CAT shares. Bank of America lowered their price objective on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Evercore ISI upped their price objective on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Truist Financial cut 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. Morgan Stanley lowered their price target 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. Finally, Citigroup boosted their price objective on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $383.80.

Insider Activity

In related news, insider Jason Kaiser sold 2,425 shares of the business’s 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 completion of the transaction, the insider now directly owns 6,275 shares in the company, valued at $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 45,182 shares in the company, valued at $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Stock Down 8.6 %

CAT stock opened at $305.75 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. Caterpillar Inc. has a 52 week low of $299.77 and a 52 week high of $418.50. The stock has a market capitalization of $146.13 billion, a PE ratio of 13.85, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The firm has a 50 day moving average of $349.24 and a 200 day moving average of $371.61.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data 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%. Sell-side analysts forecast that Caterpillar Inc. will post 19.86 earnings per share 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.