Highland Capital Management LLC Has $6.33 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Highland Capital Management LLC raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 11.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,401 shares of the industrial products company’s stock after buying an additional 2,130 shares during the quarter. Highland Capital Management LLC’s holdings in Caterpillar were worth $6,328,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Moneta Group Investment Advisors LLC raised its stake in shares of Caterpillar by 130,632.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,784,017 shares of the industrial products company’s stock valued at $2,343,859,000 after purchasing an additional 9,776,533 shares in the last quarter. Northern Trust Corp raised its stake in shares of Caterpillar by 1.6% in the third quarter. Northern Trust Corp now owns 6,962,809 shares of the industrial products company’s stock valued at $1,900,847,000 after purchasing an additional 111,384 shares in the last quarter. Morgan Stanley raised its stake in shares of Caterpillar by 0.7% in the third quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock valued at $1,864,823,000 after purchasing an additional 47,258 shares in the last quarter. FMR LLC raised its stake in shares of Caterpillar by 14.9% in the third quarter. FMR LLC now owns 6,038,207 shares of the industrial products company’s stock valued at $1,648,431,000 after purchasing an additional 781,111 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Caterpillar by 1.7% during the third quarter. Bank of New York Mellon Corp now owns 5,440,783 shares of the industrial products company’s stock worth $892,724,000 after acquiring an additional 92,360 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Price Performance

Shares of CAT opened at $364.65 on Thursday. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.25. Caterpillar Inc. has a 1 year low of $204.04 and a 1 year high of $365.52. The stock has a market cap of $182.11 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 1.70 and a beta of 1.16. The stock’s 50-day moving average price is $325.46 and its two-hundred day moving average price is $287.19.

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

Insider Transactions at Caterpillar

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 sale, the insider now owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the sale, the insider now owns 23,474 shares in the company, valued at approximately $7,741,725.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Lange Bob De sold 21,194 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the transaction, the insider now directly owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The disclosure for this sale can be found here. Insiders have sold a total of 45,769 shares of company stock valued at $14,509,306 over the last 90 days. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on CAT. Evercore ISI lowered Caterpillar from an “outperform” rating to an “in-line” rating and increased their price objective for the stock from $321.00 to $338.00 in a research note on Tuesday, February 20th. Stifel Nicolaus increased their price objective on Caterpillar from $285.00 to $293.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Truist Financial began coverage on Caterpillar in a research note on Thursday, March 14th. They set a “buy” rating and a $390.00 price objective for the company. TD Cowen increased their price objective on Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Finally, Robert W. Baird increased their target price on Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” 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 given a buy rating to the stock. According to MarketBeat.com, the company 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.