AXQ Capital LP Acquires 4,412 Shares of Caterpillar Inc. (NYSE:CAT)

AXQ Capital LP increased its stake in Caterpillar Inc. (NYSE:CAT) by 211.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,501 shares of the industrial products company’s stock after purchasing an additional 4,412 shares during the period. Caterpillar makes up 1.1% of AXQ Capital LP’s holdings, making the stock its 2nd biggest holding. AXQ Capital LP’s holdings in Caterpillar were worth $2,358,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of CAT. Flagship Wealth Advisors LLC acquired a new stake in shares of Caterpillar during the 4th quarter valued at $26,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Caterpillar in the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC bought a new position in shares of Caterpillar in the 4th quarter worth about $27,000. Noble Wealth Management PBC bought a new stake in Caterpillar in the 4th quarter valued at about $31,000. Finally, Retirement Wealth Solutions LLC bought a new stake in Caterpillar in the 4th quarter valued at about $34,000. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CAT shares. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and lifted their price target for the company from $355.00 to $385.00 in a research note on Monday, February 3rd. Jefferies Financial Group boosted their target price on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. DA Davidson upped their price target on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley reduced their target price on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. cut their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $383.80.

Caterpillar Stock Performance

Shares of CAT stock opened at $335.49 on Friday. The firm has a market cap of $160.34 billion, a P/E ratio of 15.20, a P/E/G ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a one year low of $307.05 and a one year 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 firm’s 50 day moving average price is $358.61 and its 200-day moving average price is $371.83.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Activity at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction that occurred 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 of the company’s stock, valued at $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction dated Tuesday, February 4th. The shares were purchased at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the transaction, the director now owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

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.