Congress Wealth Management LLC DE Increases Position in Caterpillar Inc. (NYSE:CAT)

Congress Wealth Management LLC DE lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 60,640 shares of the industrial products company’s stock after acquiring an additional 1,658 shares during the period. Congress Wealth Management LLC DE’s holdings in Caterpillar were worth $21,998,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Clune & Associates LTD. purchased a new stake in shares of Caterpillar during the 4th quarter valued at $3,083,000. Crowley Wealth Management Inc. purchased a new stake in Caterpillar during the fourth quarter worth about $458,000. Vanguard Group Inc. raised its position in Caterpillar by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock worth $16,980,629,000 after acquiring an additional 284,366 shares during the period. LPL Financial LLC boosted its stake in Caterpillar by 3.4% in the fourth quarter. LPL Financial LLC now owns 909,922 shares of the industrial products company’s stock valued at $330,083,000 after acquiring an additional 30,284 shares during the last quarter. Finally, Richwood Investment Advisors LLC grew its position in shares of Caterpillar by 7.4% during the 4th quarter. Richwood Investment Advisors LLC now owns 2,670 shares of the industrial products company’s stock valued at $969,000 after acquiring an additional 185 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT stock opened at $335.49 on Monday. The company has a market capitalization of $160.34 billion, a P/E ratio of 15.20, a PEG ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two week high of $418.50. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The stock has a 50 day moving average price of $358.61 and a two-hundred day moving average price of $372.30.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating 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%. Analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on CAT shares. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $355.00 to $385.00 in a report on Monday, February 3rd. Truist Financial lowered their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Jefferies Financial Group lifted their price objective on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. DA Davidson upped their price objective on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Raymond James raised shares of Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $383.80.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,425 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the sale, the insider now owns 6,275 shares of the company’s stock, valued at $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the transaction, the chief financial officer now directly owns 45,182 shares in the company, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Caterpillar Company 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.