Independence Bank of Kentucky Buys 283 Shares of Caterpillar Inc. (NYSE:CAT)

Independence Bank of Kentucky increased its holdings in shares of Caterpillar Inc. (NYSE:CATFree Report) by 78.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 645 shares of the industrial products company’s stock after purchasing an additional 283 shares during the period. Independence Bank of Kentucky’s holdings in Caterpillar were worth $191,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cornerstone Wealth Management LLC raised its holdings in shares of Caterpillar by 1.0% during the fourth quarter. Cornerstone Wealth Management LLC now owns 3,507 shares of the industrial products company’s stock valued at $1,037,000 after acquiring an additional 36 shares in the last quarter. ACT Wealth Management LLC boosted its position in Caterpillar by 4.3% in the fourth quarter. ACT Wealth Management LLC now owns 877 shares of the industrial products company’s stock worth $259,000 after purchasing an additional 36 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Caterpillar by 6.6% in the second quarter. Farther Finance Advisors LLC now owns 595 shares of the industrial products company’s stock worth $146,000 after purchasing an additional 37 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in Caterpillar by 2.0% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,893 shares of the industrial products company’s stock worth $560,000 after purchasing an additional 37 shares during the last quarter. Finally, Elwood & Goetz Wealth Advisory Group LLC raised its stake in shares of Caterpillar by 2.0% in the fourth quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 1,916 shares of the industrial products company’s stock worth $567,000 after buying an additional 38 shares during the period. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CAT. StockNews.com downgraded Caterpillar from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Wells Fargo & Company lifted their target price on Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. The Goldman Sachs Group lifted their target price on Caterpillar from $274.00 to $357.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Truist Financial initiated coverage on Caterpillar in a report on Thursday, March 14th. They set a “buy” rating and a $390.00 price objective for the company. Finally, TD Cowen upped their target price on Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and an average price target of $297.89.

Get Our Latest Stock Analysis on Caterpillar

Caterpillar Trading Up 3.0 %

NYSE:CAT opened at $375.93 on Thursday. The business’s 50-day moving average is $333.50 and its two-hundred day moving average is $290.24. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.35 and a quick ratio of 0.87. Caterpillar Inc. has a 12 month low of $204.04 and a 12 month high of $376.07. The firm has a market capitalization of $187.74 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 1.74 and a beta of 1.17.

Caterpillar (NYSE:CATGet Free Report) last posted its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, topping analysts’ consensus estimates of $4.76 by $0.47. The business had revenue of $17.07 billion during the quarter, compared to the consensus estimate of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $3.86 earnings per share. Research analysts predict that Caterpillar Inc. will post 21.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of Caterpillar stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total value of $1,508,835.00. Following the transaction, the insider now owns 23,474 shares in the company, valued at $7,741,725.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the completion of the transaction, the chief financial officer now owns 67,317 shares of the company’s stock, valued at approximately $20,197,792.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 4,575 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the transaction, the insider now directly owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,769 shares of company stock worth $14,509,306. 0.33% of the stock is owned by insiders.

Caterpillar Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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