Union Bancaire Privee UBP SA Raises Stock Holdings in Caterpillar Inc. $CAT

Key Points

• Union Bancaire Privée UBP SA raised its stake in Caterpillar by 11.4%, buying 5,395 shares to own 52,626 shares worth about $30.15 million at the end of the quarter.
• Caterpillar beat quarterly expectations, reporting $5.16 EPS vs. $4.67 expected and $19.13 billion in revenue vs. $17.81 billion, with revenue up 17.9% year‑over‑year.
• Analyst sentiment is bullish: 16 Buys, 7 Holds and 1 Sell give a MarketBeat average rating of "Moderate Buy" and an average price target of $730.50, with multiple firms recently raising targets.

Union Bancaire Privee UBP SA grew its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 11.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,626 shares of the industrial products company's stock after buying an additional 5,395 shares during the period. Union Bancaire Privee UBP SA's holdings in Caterpillar were worth $30,148,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Marquette Asset Management LLC raised its stake in Caterpillar by 1,060.0% during the 3rd quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company's stock worth $28,000 after acquiring an additional 53 shares during the period. Joseph Group Capital Management purchased a new stake in shares of Caterpillar in the third quarter worth $32,000. Kilter Group LLC bought a new stake in shares of Caterpillar during the 2nd quarter valued at $27,000. Sellwood Investment Partners LLC bought a new position in Caterpillar in the 3rd quarter worth $35,000. Finally, Burkett Financial Services LLC increased its stake in Caterpillar by 82.9% in the 3rd quarter. Burkett Financial Services LLC now owns 75 shares of the industrial products company's stock worth $36,000 after buying an additional 34 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Trading Down 0.8%

Shares of Caterpillar stock opened at $688.01 on Friday. The stock has a market cap of $320.12 billion, a PE ratio of 36.56, a price-to-earnings-growth ratio of 1.64 and a beta of 1.54. The firm has a fifty day moving average price of $700.70 and a 200 day moving average price of $591.34. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $789.81. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.44 and a quick ratio of 0.94.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The industrial products company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.67 by $0.49. The company had revenue of $19.13 billion for the quarter, compared to analyst estimates of $17.81 billion. Caterpillar had a net margin of 13.14% and a return on equity of 45.76%. The firm's revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company earned $5.14 earnings per share. Equities research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Transactions at Caterpillar

In related news, CEO Joseph E. Creed sold 2,500 shares of the firm's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $718.93, for a total transaction of $1,797,325.00. Following the sale, the chief executive officer directly owned 35,083 shares of the company's stock, valued at $25,222,221.19. This trade represents a 6.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rodney Michael Shurman sold 2,278 shares of the firm's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $759.61, for a total transaction of $1,730,391.58. Following the sale, the insider directly owned 1,443 shares in the company, valued at $1,096,117.23. The trade was a 61.22% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 135,950 shares of company stock valued at $94,327,990. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on CAT. Truist Financial lifted their target price on Caterpillar from $729.00 to $786.00 and gave the stock a "buy" rating in a report on Monday, February 2nd. Wolfe Research lifted their target price on Caterpillar from $470.00 to $670.00 and gave the company an "outperform" rating in a research report on Friday, January 2nd. HSBC increased their target price on Caterpillar from $660.00 to $850.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Jefferies Financial Group boosted their target price on Caterpillar from $785.00 to $825.00 and gave the stock a "buy" rating in a research note on Friday, March 6th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Caterpillar in a research report on Monday, December 29th. Sixteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $730.50.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company's product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.

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