Mitsubishi UFJ Asset Management Co. Ltd. Acquires 83,226 Shares of Caterpillar Inc. (NYSE:CAT)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 8.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,081,909 shares of the industrial products company’s stock after acquiring an additional 83,226 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Caterpillar were worth $393,588,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CAT. Flagship Wealth Advisors LLC acquired a new position in shares of Caterpillar in the fourth quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Caterpillar in the 4th quarter valued at $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Caterpillar during the fourth quarter worth $27,000. Noble Wealth Management PBC bought a new position in Caterpillar in the fourth quarter valued at about $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Caterpillar during the fourth quarter worth $34,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Down 0.5 %

CAT opened at $340.91 on Thursday. The stock has a 50-day moving average of $356.95 and a 200 day moving average of $372.24. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50. The firm has a market cap of $162.93 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.87 and a beta of 1.15. 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 issued its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (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%. As a group, research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CAT shares. Citigroup boosted their price target on Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, January 31st. DA Davidson increased their price target on Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Jefferies Financial Group boosted their target price on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Bank of America dropped their target price 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, Truist Financial decreased their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Two investment 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, Caterpillar currently has a consensus rating of “Hold” and an average price target of $383.80.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gerald Johnson acquired 100 shares of the company’s 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 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 owned by insiders.

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.