Traynor Capital Management Inc. Purchases 479 Shares of Caterpillar Inc. (NYSE:CAT)

Traynor Capital Management Inc. increased its position in Caterpillar Inc. (NYSE:CAT) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,558 shares of the industrial products company’s stock after acquiring an additional 479 shares during the quarter. Traynor Capital Management Inc.’s holdings in Caterpillar were worth $3,122,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Atlas Capital Advisors LLC grew its position in Caterpillar by 272.4% in the 1st 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 grew its position in Caterpillar by 730.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 95 shares during the last quarter. First Capital Advisors Group LLC. acquired a new stake in Caterpillar in the 2nd quarter worth $30,000. CGC Financial Services LLC acquired a new stake in Caterpillar in the 2nd quarter worth $31,000. Finally, SkyView Investment Advisors LLC acquired a new stake in shares of Caterpillar during the 1st quarter valued at about $35,000. Institutional investors own 70.98% of the company’s stock.

Insider Activity

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $310.10, for a total value of $3,101,000.00. Following the transaction, the chief financial officer now directly owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the transaction, the chief financial officer now directly owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David Maclennan purchased 350 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were acquired at an average cost of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the transaction, the director now owns 5,238 shares of the company’s stock, valued at approximately $1,693,812.06. The disclosure for this purchase can be found here. Insiders have sold 45,769 shares of company stock valued at $14,509,306 over the last ninety days. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on CAT shares. JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $345.00 to $385.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. TD Cowen boosted their price target on shares of Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. The Goldman Sachs Group boosted their price target on shares of Caterpillar from $274.00 to $357.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Wells Fargo & Company boosted their price target on shares of Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Truist Financial began coverage on shares of Caterpillar in a report on Thursday, March 14th. They set a “buy” rating and a $390.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and an average price target of $297.89.

Caterpillar Stock Up 0.5 %

CAT 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. Caterpillar Inc. has a 1-year low of $204.04 and a 1-year high of $367.22. The stock’s 50-day moving average is $325.46 and its two-hundred day moving average is $287.19. The stock has a market cap of $182.97 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 1.70 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25.

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

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.