Resona Asset Management Co. Ltd. Takes $55.35 Million Position in Caterpillar Inc. (NYSE:CAT)

Resona Asset Management Co. Ltd. bought a new position in shares of Caterpillar Inc. (NYSE:CAT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 152,442 shares of the industrial products company’s stock, valued at approximately $55,353,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Flagship Wealth Advisors LLC acquired a new stake in Caterpillar during the fourth quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Caterpillar in the fourth quarter valued at $27,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Caterpillar during the 4th quarter valued at $27,000. Noble Wealth Management PBC bought a new stake in shares of Caterpillar during the 4th quarter worth $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Caterpillar in the 4th quarter worth $34,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CAT shares. JPMorgan Chase & Co. decreased their price target on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Evercore ISI lifted their target price on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. 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. Raymond James raised shares of Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley dropped their price target on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $383.80.

Caterpillar Stock Performance

NYSE:CAT opened at $287.57 on Friday. Caterpillar Inc. has a 12-month low of $281.50 and a 12-month high of $418.50. The firm has a market capitalization of $137.44 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The firm has a 50-day moving average price of $346.83 and a 200 day moving average price of $371.19.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data 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 net margin of 16.65% and a return on equity of 58.18%. Research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated 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 transaction, the director now directly owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. This trade represents a 3.39 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value 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 $17,173,226.38. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by 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.