Caterpillar Inc. (CAT) Holdings Raised by Covington Capital Management

Covington Capital Management increased its holdings in Caterpillar Inc. (NYSE:CAT) by 14.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,690 shares of the industrial products company’s stock after buying an additional 340 shares during the period. Covington Capital Management’s holdings in Caterpillar were worth $424,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Davis R M Inc. lifted its stake in Caterpillar by 5.9% in the 4th quarter. Davis R M Inc. now owns 6,061 shares of the industrial products company’s stock worth $955,000 after purchasing an additional 337 shares in the last quarter. RiverPoint Capital Management LLC lifted its stake in Caterpillar by 13.1% in the 4th quarter. RiverPoint Capital Management LLC now owns 2,980 shares of the industrial products company’s stock worth $470,000 after purchasing an additional 344 shares in the last quarter. Bridges Investment Management Inc. lifted its stake in Caterpillar by 7.4% in the 4th quarter. Bridges Investment Management Inc. now owns 5,096 shares of the industrial products company’s stock worth $803,000 after purchasing an additional 350 shares in the last quarter. Northstar Group Inc. lifted its stake in Caterpillar by 15.3% in the 4th quarter. Northstar Group Inc. now owns 2,735 shares of the industrial products company’s stock worth $431,000 after purchasing an additional 362 shares in the last quarter. Finally, Community Bank & Trust Waco Texas lifted its stake in Caterpillar by 2.2% in the 4th quarter. Community Bank & Trust Waco Texas now owns 17,281 shares of the industrial products company’s stock worth $2,723,000 after purchasing an additional 365 shares in the last quarter. 69.24% of the stock is owned by institutional investors.

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Several research firms have issued reports on CAT. Barclays began coverage on shares of Caterpillar in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $162.00 target price on the stock. ValuEngine upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Citigroup reiterated a “neutral” rating and issued a $185.00 target price (up from $160.00) on shares of Caterpillar in a research note on Friday, January 19th. UBS increased their target price on shares of Caterpillar from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Finally, Argus increased their target price on shares of Caterpillar from $155.00 to $185.00 and gave the stock a “hold” rating in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $170.40.

In other Caterpillar news, insider Thomas A. Pellette sold 95,199 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $163.09, for a total value of $15,526,004.91. Following the sale, the insider now owns 96,268 shares of the company’s stock, valued at approximately $15,700,348.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Suzette M. Long sold 528 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total transaction of $84,722.88. Following the completion of the sale, the general counsel now directly owns 19,646 shares in the company, valued at approximately $3,152,397.16. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

NYSE:CAT traded down $5.14 during trading hours on Friday, reaching $142.99. The company’s stock had a trading volume of 5,678,616 shares, compared to its average volume of 5,176,423. The stock has a market cap of $88,526.31, a PE ratio of 20.78, a PEG ratio of 1.36 and a beta of 1.30. Caterpillar Inc. has a 1 year low of $92.98 and a 1 year high of $173.24. The company has a quick ratio of 0.97, a current ratio of 1.35 and a debt-to-equity ratio of 1.73.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, January 25th. The industrial products company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.39. The company had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $12.01 billion. Caterpillar had a net margin of 1.66% and a return on equity of 28.69%. The firm’s revenue was up 34.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.83 EPS. sell-side analysts anticipate that Caterpillar Inc. will post 9.1 EPS for the current year.

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About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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