ExodusPoint Capital Management LP Makes New Investment in Caterpillar Inc. (NYSE:CAT)

ExodusPoint Capital Management LP acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the fourth quarter, HoldingsChannel reports. The firm acquired 22,423 shares of the industrial products company’s stock, valued at approximately $8,134,000.

Several other large investors have also recently made changes to their positions in the company. Flagship Wealth Advisors LLC bought a new stake in Caterpillar in the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Caterpillar during the fourth quarter valued at $27,000. Cyrus J. Lawrence LLC bought a new position in Caterpillar during the fourth quarter valued at $27,000. Noble Wealth Management PBC purchased a new position in shares of Caterpillar in the 4th quarter worth $31,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Caterpillar in the 4th quarter worth about $34,000. 70.98% of the stock is owned by institutional investors.

Caterpillar Price Performance

CAT opened at $287.57 on Friday. 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 business’s fifty day simple moving average is $346.83 and its 200-day simple moving average is $371.19. The company has a market capitalization of $137.44 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a 12-month low of $281.50 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT) last posted its earnings results 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%. On average, equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the sale, the insider now directly owns 6,275 shares in the company, valued at $2,225,742.50. This represents a 27.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was bought at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the purchase, the director now directly owns 3,053 shares of the company’s stock, valued at $1,116,085.21. The trade was a 3.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CAT has been the subject of several recent research reports. Morgan Stanley dropped their price target on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Jefferies Financial Group increased their price target on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Raymond James raised shares of Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. Finally, DA Davidson upped 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $383.80.

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.