Clark Capital Management Group Inc. Has $3.09 Million Stock Holdings in Caterpillar Inc. $CAT

Clark Capital Management Group Inc. boosted its position in Caterpillar Inc. (NYSE:CAT) by 18.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,470 shares of the industrial products company’s stock after acquiring an additional 987 shares during the period. Clark Capital Management Group Inc.’s holdings in Caterpillar were worth $3,087,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CAT. Kilter Group LLC acquired a new stake in shares of Caterpillar during the 2nd quarter worth approximately $27,000. Marquette Asset Management LLC lifted its holdings in Caterpillar by 1,060.0% in the third quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock valued at $28,000 after buying an additional 53 shares during the period. RiverPark Advisors LLC bought a new position in Caterpillar in the second quarter valued at approximately $32,000. Joseph Group Capital Management bought a new position in Caterpillar in the third quarter valued at approximately $32,000. Finally, Vermillion & White Wealth Management Group LLC grew its holdings in Caterpillar by 107.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 89 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 46 shares during the period. 70.98% of the stock is owned by institutional investors.

Insider Transactions at Caterpillar

In other Caterpillar news, CEO Joseph E. Creed sold 2,500 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $718.93, for a total transaction of $1,797,325.00. Following the completion of the transaction, the chief executive officer owned 35,083 shares in the company, valued at approximately $25,222,221.19. This represents a 6.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lange Bob De sold 22,656 shares of Caterpillar stock in a transaction dated 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 in the company, valued at $57,574,954.83. This represents a 22.08% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 135,950 shares of company stock worth $94,327,990. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT stock opened at $700.09 on Tuesday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.94 and a current ratio of 1.44. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $789.81. The company’s 50 day moving average price is $695.58 and its two-hundred day moving average price is $587.94. The company has a market capitalization of $325.75 billion, a P/E ratio of 37.20, a price-to-earnings-growth ratio of 1.64 and a beta of 1.53.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, beating 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 company had revenue of $19.13 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter in the prior year, the company earned $5.14 earnings per share. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. On average, analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CAT has been the topic of a number of analyst reports. Jefferies Financial Group increased their price target on Caterpillar from $785.00 to $825.00 and gave the company a “buy” rating in a research note on Friday, March 6th. JPMorgan Chase & Co. upped their price objective on Caterpillar from $765.00 to $860.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. Royal Bank Of Canada increased their target price on Caterpillar from $587.00 to $658.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Barclays raised their target price on Caterpillar from $610.00 to $625.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Finally, Evercore upped their price target on Caterpillar from $476.00 to $630.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Sixteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $730.50.

About Caterpillar

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.