Bay Capital Advisors LLC Makes New $465,000 Investment in Caterpillar Inc. (NYSE:CAT)

Bay Capital Advisors LLC bought a new stake in Caterpillar Inc. (NYSE:CAT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,281 shares of the industrial products company’s stock, valued at approximately $465,000.

Several other hedge funds also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in shares of Caterpillar during the fourth quarter valued at about $353,231,000. Proficio Capital Partners LLC increased its stake in Caterpillar by 50,072.7% in the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock valued at $291,938,000 after buying an additional 803,166 shares during the last quarter. Amundi lifted its position in shares of Caterpillar by 17.3% during the 4th quarter. Amundi now owns 2,166,087 shares of the industrial products company’s stock worth $782,109,000 after buying an additional 318,891 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 284,366 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI grew its holdings in shares of Caterpillar by 4,018.6% in the third quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock valued at $99,874,000 after acquiring an additional 249,155 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 1.8 %

NYSE:CAT opened at $341.83 on Tuesday. The company has a market cap of $163.37 billion, a P/E ratio of 15.49, a P/E/G ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The stock’s fifty day moving average price is $358.19 and its two-hundred day moving average price is $372.36.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping the consensus estimate 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 expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CAT. Raymond James upgraded Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. DA Davidson lifted their target price on Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Truist Financial reduced their price target on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Jefferies Financial Group lifted their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Citigroup increased their target price on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Caterpillar has an average rating of “Hold” and a consensus price target of $383.80.

Insider Activity at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar 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 owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the company’s 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 transaction, the insider now owns 6,275 shares in the company, valued at $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

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.