King Wealth Management Group Boosts Stock Position in Caterpillar Inc. (NYSE:CAT)

King Wealth Management Group increased its stake in Caterpillar Inc. (NYSE:CAT) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,318 shares of the industrial products company’s stock after purchasing an additional 86 shares during the quarter. King Wealth Management Group’s holdings in Caterpillar were worth $1,204,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Caterpillar during the fourth quarter valued at approximately $353,231,000. Proficio Capital Partners LLC boosted its position in Caterpillar by 50,072.7% during the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock valued at $291,938,000 after acquiring an additional 803,166 shares in the last quarter. Amundi lifted its position in Caterpillar by 17.3% during the fourth quarter. Amundi now owns 2,166,087 shares of the industrial products company’s stock valued at $782,109,000 after buying an additional 318,891 shares during the period. Zurich Insurance Group Ltd FI grew its holdings in Caterpillar by 4,018.6% in the third quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock worth $99,874,000 after purchasing an additional 249,155 shares during the period. Finally, Strategic Financial Concepts LLC increased its position in Caterpillar by 36,168.5% during the 4th quarter. Strategic Financial Concepts LLC now owns 227,041 shares of the industrial products company’s stock valued at $82,361,000 after buying an additional 226,415 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Down 1.4 %

Caterpillar stock opened at $333.26 on Friday. The company has a market capitalization of $159.28 billion, a P/E ratio of 15.10, 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 stock has a 50-day simple moving average of $361.27 and a 200-day simple moving average of $372.42. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CAT shares. Morgan Stanley decreased their price target on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Bank of America decreased their price target on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Jefferies Financial Group lifted their price target on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Citigroup boosted their target price on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $383.80.

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This trade represents 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 corporate 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.