Mainstay Capital Management LLC ADV Acquires New Holdings in Caterpillar Inc. (NYSE:CAT)

Mainstay Capital Management LLC ADV acquired a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,384 shares of the industrial products company's stock, valued at approximately $1,001,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAT. Waterway Wealth Management LLC acquired a new position in shares of Caterpillar in the fourth quarter worth $352,000. Farmers Trust Co. raised its holdings in shares of Caterpillar by 2.7% in the fourth quarter. Farmers Trust Co. now owns 4,490 shares of the industrial products company's stock worth $1,328,000 after acquiring an additional 120 shares during the last quarter. Panagora Asset Management Inc. grew its position in shares of Caterpillar by 16.7% in the third quarter. Panagora Asset Management Inc. now owns 367,655 shares of the industrial products company's stock valued at $100,370,000 after purchasing an additional 52,576 shares during the period. Rise Advisors LLC grew its position in shares of Caterpillar by 7.8% in the fourth quarter. Rise Advisors LLC now owns 1,074 shares of the industrial products company's stock valued at $318,000 after purchasing an additional 78 shares during the period. Finally, Eagle Asset Management Inc. grew its position in shares of Caterpillar by 176.9% in the third quarter. Eagle Asset Management Inc. now owns 27,357 shares of the industrial products company's stock valued at $7,468,000 after purchasing an additional 17,478 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Sanford C. Bernstein lifted their price objective on Caterpillar from $216.00 to $245.00 and gave the company a "market perform" rating in a research report on Thursday, December 21st. StockNews.com downgraded Caterpillar from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 20th. TD Cowen lifted their price objective on Caterpillar from $300.00 to $338.00 and gave the company an "outperform" rating in a research report on Tuesday, February 6th. Truist Financial initiated coverage on Caterpillar in a research report on Thursday, March 14th. They set a "buy" rating and a $390.00 price target for the company. Finally, Morgan Stanley initiated coverage on Caterpillar in a research report on Monday, January 8th. They set an "equal weight" rating and a $270.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $297.89.

Insider Buying and Selling at Caterpillar

In other news, Director David Maclennan acquired 350 shares of the business's stock in a transaction on Friday, February 23rd. The shares were purchased at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the purchase, the director now directly owns 5,238 shares of the company's stock, valued at approximately $1,693,812.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the sale, the chief financial officer now owns 67,317 shares in the company, valued at $20,197,792.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David Maclennan purchased 350 shares of the company's stock in a transaction dated Friday, February 23rd. The shares were bought at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the transaction, the director now directly owns 5,238 shares in the company, valued at approximately $1,693,812.06. The disclosure for this purchase can be found here. Insiders have sold 45,769 shares of company stock worth $14,509,306 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Up 2.6 %

Shares of NYSE:CAT traded up $9.51 during trading on Friday, hitting $379.30. The company's stock had a trading volume of 2,066,322 shares, compared to its average volume of 2,143,353. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 1.35. Caterpillar Inc. has a fifty-two week low of $204.04 and a fifty-two week high of $381.03. The stock's 50-day moving average price is $336.48 and its two-hundred day moving average price is $291.48. The company has a market capitalization of $189.42 billion, a PE ratio of 18.83, a PEG ratio of 1.65 and a beta of 1.17.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, topping the consensus estimate of $4.76 by $0.47. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The business had revenue of $17.07 billion for the quarter, compared to analysts' expectations of $17.06 billion. During the same quarter in the previous year, the firm posted $3.86 earnings per share. The company's revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts expect that Caterpillar Inc. will post 21.33 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.