Geode Capital Management LLC Acquires 236,315 Shares of Caterpillar Inc. (NYSE:CAT)

Geode Capital Management LLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,449,770 shares of the industrial products company’s stock after acquiring an additional 236,315 shares during the period. Geode Capital Management LLC’s holdings in Caterpillar were worth $3,790,841,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CAT. Flagship Wealth Advisors LLC purchased a new stake in shares of Caterpillar in the fourth quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Caterpillar in the 4th quarter valued at $27,000. Cyrus J. Lawrence LLC bought a new position in Caterpillar during the 4th quarter valued at $27,000. Noble Wealth Management PBC purchased a new position in Caterpillar during the 4th quarter worth $31,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Caterpillar in the 4th quarter worth $34,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT opened at $330.14 on Tuesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The stock has a market capitalization of $157.78 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50. The stock’s 50-day simple moving average is $353.87 and its 200 day simple moving average is $372.44.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data 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%. Research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CAT has been the subject of a number of research analyst reports. Evercore ISI increased their price target on Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Truist Financial lowered their price objective on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Morgan Stanley reduced their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Finally, UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $355.00 to $385.00 in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $383.80.

Insiders Place Their Bets

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction on 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 completion of the transaction, the director now directly owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. The trade was a 3.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

About Caterpillar

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.