NEOS Investment Management LLC Raises Position in Caterpillar Inc. (NYSE:CAT)

NEOS Investment Management LLC boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 11.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,473 shares of the industrial products company’s stock after buying an additional 4,035 shares during the quarter. NEOS Investment Management LLC’s holdings in Caterpillar were worth $13,956,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on CAT. DA Davidson lifted their price target on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Citigroup lifted their target price on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, January 31st. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Truist Financial cut their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Finally, Evercore ISI lifted 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $383.80.

Caterpillar Stock Down 0.5 %

Shares of NYSE CAT opened at $340.91 on Thursday. The stock has a 50 day moving average price of $356.95 and a 200 day moving average price of $372.24. The firm has a market capitalization of $162.93 billion, a price-to-earnings ratio of 15.45, a PEG 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 company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42.

Caterpillar (NYSE:CAT) last posted 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%. Sell-side analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Buying and Selling at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the transaction, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This represents a 18.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were bought at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the acquisition, the director now owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

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.