NorthRock Partners LLC Raises Position in Caterpillar Inc. $CAT

NorthRock Partners LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 24.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,540 shares of the industrial products company’s stock after acquiring an additional 2,499 shares during the quarter. NorthRock Partners LLC’s holdings in Caterpillar were worth $5,983,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new position in Caterpillar during the 2nd quarter worth $2,165,899,000. Massachusetts Financial Services Co. MA raised its position in Caterpillar by 1,851.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,830,414 shares of the industrial products company’s stock valued at $873,382,000 after purchasing an additional 1,736,631 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Caterpillar by 425.2% in the 2nd quarter. Marshall Wace LLP now owns 761,800 shares of the industrial products company’s stock valued at $295,738,000 after buying an additional 616,739 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Caterpillar by 20.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,553,930 shares of the industrial products company’s stock valued at $1,695,757,000 after buying an additional 609,023 shares during the period. Finally, Voya Investment Management LLC grew its position in shares of Caterpillar by 36.9% during the third quarter. Voya Investment Management LLC now owns 1,777,589 shares of the industrial products company’s stock worth $848,177,000 after buying an additional 478,972 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $693.89 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.44 and a debt-to-equity ratio of 1.44. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $789.81. The firm’s 50 day moving average is $693.92 and its two-hundred day moving average is $583.93. The firm has a market capitalization of $322.86 billion, a P/E ratio of 36.87, a P/E/G ratio of 1.65 and a beta of 1.54.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.49. Caterpillar had a net margin of 13.14% and a return on equity of 45.76%. The business had revenue of $19.13 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the firm earned $5.14 EPS. The company’s revenue was up 17.9% compared to the same quarter last year. Research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Activity

In related news, insider Lange Bob De sold 22,656 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $720.11, for a total value of $16,314,812.16. Following the completion of the sale, the insider directly owned 79,953 shares of the company’s stock, valued at $57,574,954.83. The trade was a 22.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony D. Fassino sold 7,891 shares of the firm’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $776.90, for a total value of $6,130,517.90. Following the transaction, the insider directly owned 46,643 shares in the company, valued at approximately $36,236,946.70. The trade was a 14.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 135,950 shares of company stock worth $94,327,990 over the last three months. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CAT shares. Rothschild & Co Redburn raised their target price on shares of Caterpillar from $650.00 to $700.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Wolfe Research boosted their price target on shares of Caterpillar from $470.00 to $670.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. CICC Research started coverage on shares of Caterpillar in a report on Friday, February 6th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Caterpillar from $765.00 to $860.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $678.00 target price on shares of Caterpillar in a research note on Friday, January 30th. Sixteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $730.50.

Caterpillar Company Profile

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.