Traynor Capital Management Inc. Increases Stake in Caterpillar Inc. (NYSE:CAT)

Traynor Capital Management Inc. raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 4.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,558 shares of the industrial products company’s stock after acquiring an additional 479 shares during the period. Traynor Capital Management Inc.’s holdings in Caterpillar were worth $3,122,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atlas Capital Advisors LLC lifted its position in shares of Caterpillar by 272.4% during the first quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 79 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Caterpillar by 730.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 95 shares in the last quarter. First Capital Advisors Group LLC. bought a new stake in shares of Caterpillar in the second quarter valued at about $30,000. CGC Financial Services LLC bought a new stake in shares of Caterpillar in the second quarter valued at about $31,000. Finally, SkyView Investment Advisors LLC bought a new stake in shares of Caterpillar in the first quarter valued at about $35,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Price Performance

Shares of CAT stock traded up $1.73 during trading hours on Thursday, hitting $366.38. 2,028,222 shares of the company’s stock were exchanged, compared to its average volume of 2,469,203. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25. The firm has a market cap of $182.97 billion, a P/E ratio of 18.19, a P/E/G ratio of 1.70 and a beta of 1.16. The firm has a 50 day moving average of $325.46 and a two-hundred day moving average of $287.19. Caterpillar Inc. has a fifty-two week low of $204.04 and a fifty-two week high of $367.22.

Caterpillar (NYSE:CAT) last announced its earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, topping the consensus estimate of $4.76 by $0.47. The business had revenue of $17.07 billion during the quarter, compared to the consensus estimate of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.86 EPS. Sell-side analysts forecast that Caterpillar Inc. will post 21.25 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Truist Financial assumed coverage on Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Caterpillar from $345.00 to $385.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Stifel Nicolaus lifted their target price on Caterpillar from $285.00 to $293.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. The Goldman Sachs Group lifted their target price on Caterpillar from $274.00 to $357.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Finally, Morgan Stanley assumed coverage on Caterpillar in a research note on Monday, January 8th. They set an “equal weight” rating and a $270.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $297.89.

Insider Transactions at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $300.04, for a total value of $3,000,400.00. Following the completion of the transaction, the chief financial officer now directly owns 67,317 shares of the company’s stock, valued at approximately $20,197,792.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director David Maclennan acquired 350 shares of Caterpillar stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average cost of $323.37 per share, with a total value of $113,179.50. Following the purchase, the director now owns 5,238 shares in the company, valued at $1,693,812.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $300.04, for a total value of $3,000,400.00. Following the completion of the transaction, the chief financial officer now directly owns 67,317 shares of the company’s stock, valued at $20,197,792.68. The disclosure for this sale can be found here. Insiders sold a total of 45,769 shares of company stock valued at $14,509,306 in the last three months. 0.33% of the stock is currently owned by company insiders.

About Caterpillar

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.