Caterpillar Inc. (NYSE:CAT) Stake Increased by WESCAP Management Group Inc.

WESCAP Management Group Inc. raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 68.8% during the fourth quarter, HoldingsChannel reports. The fund owned 2,700 shares of the industrial products company’s stock after acquiring an additional 1,100 shares during the quarter. WESCAP Management Group Inc.’s holdings in Caterpillar were worth $979,000 as of its most recent SEC filing.

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

Caterpillar Trading Up 0.2 %

Shares of NYSE:CAT opened at $330.40 on Wednesday. The company has a 50 day moving average of $352.51 and a 200-day moving average of $372.33. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The firm has a market cap of $157.91 billion, a P/E ratio of 14.97, a P/E/G ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a twelve month low of $307.05 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly 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 return on equity of 58.18% and a net margin of 16.65%. As a group, analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Activity at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the sale, the insider now directly owns 6,275 shares in the company, valued at $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Evercore ISI raised their target price on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their target price on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Morgan Stanley cut their price target on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Finally, Citigroup increased their target price on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $383.80.

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.