Central Pacific Bank Trust Division Raises Stake in Caterpillar Inc. $CAT

Central Pacific Bank Trust Division raised its holdings in Caterpillar Inc. (NYSE:CAT) by 238.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,115 shares of the industrial products company’s stock after purchasing an additional 2,194 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Caterpillar were worth $1,784,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CAT. Pacific Point Advisors LLC acquired a new position in Caterpillar in the 4th quarter valued at about $579,000. Brighton Jones LLC lifted its position in Caterpillar by 51.5% during the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after acquiring an additional 2,519 shares during the period. United Bank grew its stake in shares of Caterpillar by 108.5% in the 2nd quarter. United Bank now owns 4,083 shares of the industrial products company’s stock valued at $1,585,000 after purchasing an additional 2,125 shares during the last quarter. Schnieders Capital Management LLC. increased its holdings in shares of Caterpillar by 3.9% in the second quarter. Schnieders Capital Management LLC. now owns 9,147 shares of the industrial products company’s stock valued at $3,551,000 after purchasing an additional 347 shares during the period. Finally, Ensign Peak Advisors Inc raised its stake in shares of Caterpillar by 1.1% during the second quarter. Ensign Peak Advisors Inc now owns 218,908 shares of the industrial products company’s stock worth $84,982,000 after purchasing an additional 2,361 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the subject of several recent research reports. Bank of America increased their price target on Caterpillar from $735.00 to $825.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Argus upped their price objective on shares of Caterpillar from $625.00 to $820.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Robert W. Baird set a $805.00 target price on shares of Caterpillar in a research note on Friday, January 30th. HSBC boosted their price target on shares of Caterpillar from $660.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Finally, Jefferies Financial Group increased their price target on shares of Caterpillar from $785.00 to $825.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Sixteen 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. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus price target of $730.50.

Insiders Place Their Bets

In other news, CEO Joseph E. Creed sold 2,500 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $718.93, for a total value of $1,797,325.00. Following the completion of the transaction, the chief executive officer owned 35,083 shares in the company, valued at $25,222,221.19. This trade represents a 6.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $575.06, for a total transaction of $5,750,600.00. Following the completion of the sale, the chief financial officer owned 45,460 shares in the company, valued at $26,142,227.60. This represents a 18.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 135,950 shares of company stock valued at $94,327,990. Company insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $680.15 on Friday. The firm has a market capitalization of $316.47 billion, a price-to-earnings ratio of 36.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.54. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.44 and a quick ratio of 0.94. The business’s 50 day simple moving average is $701.95 and its 200-day simple moving average is $593.15. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $789.81.

Caterpillar (NYSE:CAT) last released its quarterly earnings data 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. The firm had revenue of $19.13 billion during the quarter, compared to the consensus estimate of $17.81 billion. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.Caterpillar’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period last year, the business posted $5.14 EPS. As a group, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar 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.