Nomura Asset Management Co. Ltd. Boosts Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Nomura Asset Management Co. Ltd. raised its holdings in Caterpillar Inc. (NYSE:CAT) by 5.9% in the fourth quarter, Holdings Channel reports. The firm owned 302,950 shares of the industrial products company’s stock after purchasing an additional 16,944 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Caterpillar were worth $109,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in CAT. New Age Alpha Advisors LLC purchased a new stake in Caterpillar in the 4th quarter worth approximately $10,068,000. Norges Bank purchased a new position in shares of Caterpillar during the 4th quarter valued at about $2,184,364,000. Blair William & Co. IL lifted its holdings in shares of Caterpillar by 1.0% in the 4th quarter. Blair William & Co. IL now owns 115,391 shares of the industrial products company’s stock worth $41,859,000 after acquiring an additional 1,174 shares during the last quarter. BCO Wealth Management LLC purchased a new stake in Caterpillar during the fourth quarter valued at about $212,000. Finally, LM Advisors LLC purchased a new position in Caterpillar in the 4th quarter worth approximately $467,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT opened at $339.35 on Friday. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two 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. The company has a market cap of $162.19 billion, a PE ratio of 15.38, a P/E/G ratio of 1.87 and a beta of 1.15. The business has a 50-day simple moving average of $356.12 and a two-hundred day simple moving average of $372.01.

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%. As a group, equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CAT has been the subject of several research analyst reports. Truist Financial dropped 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. Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Evercore ISI raised their price objective on shares of Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Wedbush raised Caterpillar to an “outperform” rating in a report on Monday, February 3rd. Finally, StockNews.com cut 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 given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Caterpillar has an average rating of “Hold” and a consensus target price of $383.80.

Insiders Place Their Bets

In other news, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were purchased at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the transaction, 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 currently owned by insiders.

About Caterpillar

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.