Canopy Partners LLC Purchases 2,096 Shares of Caterpillar Inc. (NYSE:CAT)

Canopy Partners LLC raised its position in Caterpillar Inc. (NYSE:CAT) by 84.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,581 shares of the industrial products company’s stock after acquiring an additional 2,096 shares during the period. Canopy Partners LLC’s holdings in Caterpillar were worth $1,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Caterpillar by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock worth $16,980,629,000 after purchasing an additional 284,366 shares during the period. Geode Capital Management LLC raised its stake in Caterpillar by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company’s stock valued at $3,790,841,000 after buying an additional 236,315 shares during the last quarter. Fisher Asset Management LLC raised its position in Caterpillar by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company’s stock worth $3,294,505,000 after acquiring an additional 129,143 shares during the period. Norges Bank purchased a new position in Caterpillar during the fourth quarter valued at approximately $2,184,364,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Caterpillar by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,289,101 shares of the industrial products company’s stock worth $1,193,154,000 after acquiring an additional 61,723 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Caterpillar stock opened at $287.57 on Monday. The stock has a 50 day moving average of $346.83 and a 200-day moving average of $371.43. The stock has a market cap of $137.44 billion, a P/E ratio of 13.03, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21. Caterpillar Inc. has a 52 week low of $269.43 and a 52 week high of $418.50. 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 announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. On average, analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CAT. Wedbush upgraded Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Truist Financial reduced their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Raymond James upgraded Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. Finally, Citigroup increased their price target on Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $383.80.

Insider Activity

In related news, Director Gerald Johnson purchased 100 shares of the stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the acquisition, the director now directly owns 3,053 shares in the company, valued at approximately $1,116,085.21. The trade was a 3.39 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction 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 sale, the insider now directly owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

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.