ZEGA Investments LLC Takes Position in Caterpillar Inc. (NYSE:CAT)

ZEGA Investments LLC acquired a new position in shares of Caterpillar Inc. (NYSE:CAT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,411 shares of the industrial products company’s stock, valued at approximately $1,237,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its holdings in Caterpillar by 0.7% during the third quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company’s stock worth $285,382,000 after purchasing an additional 5,371 shares during the last quarter. Citizens Financial Group Inc. RI raised its stake in shares of Caterpillar by 43.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock worth $5,437,000 after buying an additional 4,181 shares during the last quarter. King Luther Capital Management Corp boosted its position in shares of Caterpillar by 0.4% in the 3rd quarter. King Luther Capital Management Corp now owns 18,720 shares of the industrial products company’s stock worth $7,322,000 after buying an additional 67 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its stake in Caterpillar by 1.0% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 6,344 shares of the industrial products company’s stock valued at $2,481,000 after acquiring an additional 60 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Caterpillar by 1.8% during the 3rd quarter. Pacer Advisors Inc. now owns 45,930 shares of the industrial products company’s stock valued at $17,964,000 after acquiring an additional 824 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on CAT. Wedbush upgraded shares of Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Bank of America lowered their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Citigroup increased their price objective on Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Truist Financial cut their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $383.80.

Insider Buying and Selling at Caterpillar

In other news, insider Jason Kaiser sold 2,425 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the sale, the insider now owns 6,275 shares in the company, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the transaction, the chief financial officer now directly owns 45,182 shares in the company, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Trading Down 0.2 %

CAT stock opened at $335.49 on Friday. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50. The company has a market cap of $160.34 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.87 and a beta of 1.15. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The business has a fifty day simple moving average of $358.61 and a 200-day simple moving average of $371.83.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping 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%. On average, equities research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

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.