Fifth Third Bancorp Acquires 13,325 Shares of Caterpillar Inc. (NYSE:CAT)

Fifth Third Bancorp raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 485,869 shares of the industrial products company’s stock after acquiring an additional 13,325 shares during the quarter. Fifth Third Bancorp owned approximately 0.10% of Caterpillar worth $143,657,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Atlas Capital Advisors LLC boosted its holdings in shares of Caterpillar by 272.4% in the 1st quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after buying an additional 79 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Caterpillar by 730.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 95 shares during the last quarter. Gilfoyle & Co LLC acquired a new stake in Caterpillar during the 4th quarter valued at $30,000. First Capital Advisors Group LLC. acquired a new stake in Caterpillar during the 2nd quarter valued at $30,000. Finally, CGC Financial Services LLC acquired a new stake in Caterpillar during the 2nd quarter valued at $31,000. 70.98% of the stock is owned by institutional investors.

Insider Transactions at Caterpillar

In other news, insider Lange Bob De sold 21,194 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the sale, the insider now directly owns 61,092 shares in the company, valued at $19,886,667.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Lange Bob De sold 21,194 shares of Caterpillar stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the transaction, the insider now directly owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David Maclennan acquired 350 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was bought at an average cost of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the purchase, the director now owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 45,769 shares of company stock worth $14,509,306. Insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Caterpillar stock traded up $1.78 during midday trading on Friday, reaching $366.43. The company’s stock had a trading volume of 2,028,629 shares, compared to its average volume of 2,125,006. Caterpillar Inc. has a 52 week low of $204.04 and a 52 week high of $367.22. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.25. The business has a 50-day moving average price of $328.78 and a 200-day moving average price of $288.33. The stock has a market cap of $183.00 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 1.75 and a beta of 1.16.

Caterpillar (NYSE:CAT) last released its earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.76 by $0.47. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The firm had revenue of $17.07 billion for the quarter, compared to analysts’ expectations of $17.06 billion. During the same quarter in the previous year, the business posted $3.86 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, sell-side analysts predict that Caterpillar Inc. will post 21.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Sanford C. Bernstein raised their price target on Caterpillar from $216.00 to $245.00 and gave the company a “market perform” rating in a report on Thursday, December 21st. Evercore ISI downgraded Caterpillar from an “outperform” rating to an “in-line” rating and raised their price target for the company from $321.00 to $338.00 in a report on Tuesday, February 20th. Morgan Stanley began coverage on Caterpillar in a report on Monday, January 8th. They set an “equal weight” rating and a $270.00 price target for the company. Truist Financial began coverage on Caterpillar in a report on Thursday, March 14th. They set a “buy” rating and a $390.00 target price for the company. Finally, TD Cowen lifted their target price on Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Caterpillar presently has an average rating of “Hold” and an average target price of $297.89.

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.