Clark Capital Management Group Inc. grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 22.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 257,465 shares of the industrial products company’s stock after buying an additional 47,679 shares during the quarter. Caterpillar accounts for approximately 1.2% of Clark Capital Management Group Inc.’s portfolio, making the stock its 24th largest holding. Clark Capital Management Group Inc.’s holdings in Caterpillar were worth $40,571,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. Gradient Investments LLC purchased a new stake in shares of Caterpillar during the fourth quarter worth about $113,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Caterpillar during the fourth quarter worth about $131,000. Clearbridge LLC purchased a new stake in shares of Caterpillar during the fourth quarter worth about $140,000. Aevitas Wealth Management Inc. purchased a new stake in shares of Caterpillar during the fourth quarter worth about $143,000. Finally, Massey Quick Simon & CO. LLC boosted its holdings in shares of Caterpillar by 4,240.7% during the third quarter. Massey Quick Simon & CO. LLC now owns 1,172 shares of the industrial products company’s stock worth $146,000 after purchasing an additional 1,145 shares during the period. 69.28% of the stock is currently owned by hedge funds and other institutional investors.
CAT has been the subject of a number of analyst reports. Vetr upgraded shares of Caterpillar from a “buy” rating to a “strong-buy” rating and set a $170.44 target price for the company in a report on Monday, February 5th. Credit Suisse Group raised their price objective on shares of Caterpillar from $155.00 to $192.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Citigroup raised their price objective on shares of Caterpillar from $145.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, December 21st. JPMorgan Chase & Co. upgraded shares of Caterpillar from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $161.96 to $200.00 in a report on Monday, January 8th. Finally, Wells Fargo & Co raised their price objective on shares of Caterpillar from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $170.91.
Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 25th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.39. Caterpillar had a net margin of 1.66% and a return on equity of 28.69%. The firm had revenue of $12.90 billion during the quarter, compared to analyst estimates of $12.01 billion. During the same period last year, the business earned $0.83 earnings per share. The business’s revenue was up 34.7% on a year-over-year basis. analysts forecast that Caterpillar Inc. will post 9.1 earnings per share for the current year.
In related news, insider Thomas A. Pellette sold 95,199 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $163.09, for a total transaction of $15,526,004.91. Following the completion of the sale, the insider now owns 96,268 shares of the company’s stock, valued at $15,700,348.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Suzette M. Long sold 528 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $160.46, for a total transaction of $84,722.88. Following the sale, the general counsel now directly owns 19,646 shares of the company’s stock, valued at approximately $3,152,397.16. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT).
Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.