TIAA Trust National Association Grows Holdings in Caterpillar Inc. (NYSE:CAT)

TIAA Trust National Association grew its position in shares of Caterpillar Inc. (NYSE:CAT) by 8.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,868 shares of the industrial products company’s stock after buying an additional 1,686 shares during the quarter. TIAA Trust National Association’s holdings in Caterpillar were worth $8,295,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in CAT. Nordea Investment Management AB increased its stake in Caterpillar by 1.6% in the fourth quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after acquiring an additional 10,212 shares during the last quarter. West Wealth Group LLC purchased a new stake in Caterpillar in the fourth quarter worth approximately $230,000. Cadinha & Co. LLC bought a new position in Caterpillar during the fourth quarter valued at approximately $11,084,000. Atomi Financial Group Inc. lifted its holdings in shares of Caterpillar by 3.9% in the 4th quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock worth $8,414,000 after acquiring an additional 871 shares during the last quarter. Finally, Copley Financial Group Inc. purchased a new stake in shares of Caterpillar in the 3rd quarter valued at $800,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 0.3 %

CAT stock opened at $342.65 on Wednesday. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two week high of $418.50. The company has a market capitalization of $163.76 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The business’s 50 day moving average price is $357.63 and its two-hundred day moving average price is $372.46. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share 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 forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CAT has been the subject of several recent research reports. Wedbush raised shares of Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Bank of America dropped their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a report on Friday, January 31st. Raymond James upgraded Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. Truist Financial cut their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Citigroup upped their price target on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a report on Friday, January 31st. Two investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $383.80.

Insider Activity at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’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 transaction of $3,800,900.00. Following the completion of the transaction, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction on 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 directly owns 6,275 shares in the company, valued at $2,225,742.50. This trade 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 currently owned by corporate insiders.

Caterpillar 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.