Elgethun Capital Management Increases Stake in Caterpillar Inc. (NYSE:CAT)

Elgethun Capital Management lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 16.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,097 shares of the industrial products company’s stock after acquiring an additional 155 shares during the quarter. Elgethun Capital Management’s holdings in Caterpillar were worth $398,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CAT. Vanguard Group Inc. lifted its holdings 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 during the period. Geode Capital Management LLC raised its position in Caterpillar by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company’s stock worth $3,790,841,000 after acquiring an additional 236,315 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Caterpillar by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company’s stock valued at $3,294,505,000 after acquiring an additional 129,143 shares during the period. Norges Bank purchased a new stake in shares of Caterpillar during the 4th quarter worth $2,184,364,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Caterpillar by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,289,101 shares of the industrial products company’s stock valued at $1,193,154,000 after purchasing an additional 61,723 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAT has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Truist Financial lowered their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Morgan Stanley reduced their price objective on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a report on Friday, January 31st. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and upped their target price for the company from $355.00 to $385.00 in a report on Monday, February 3rd. Finally, Bank of America cut their price target on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Two 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. According to MarketBeat, Caterpillar has an average rating of “Hold” and an average target price of $383.80.

Caterpillar Stock Performance

Caterpillar stock opened at $287.57 on Monday. The stock has a fifty day moving average price of $346.83 and a 200 day moving average price of $371.43. Caterpillar Inc. has a 52 week low of $269.43 and a 52 week high of $418.50. The firm has a market capitalization of $137.44 billion, a P/E ratio of 13.03, a PEG ratio of 1.87 and a beta of 1.21. 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 (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 EPS 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%. Equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the transaction, the insider now directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. The trade was a 27.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was acquired at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the acquisition, the director now directly owns 3,053 shares of the company’s stock, 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 insiders.

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.