Caterpillar (NYSE:CAT) Chairman Donald Umpleby III Sells 17,166 Shares

Key Points

• Caterpillar Chairman Donald Umpleby III sold 17,166 shares of the company's stock at an average price of $462.65, totaling nearly $7.94 million, which reduced his ownership by 3.56%.
• Caterpillar's stock has seen a year-to-date high of $485.34 and currently has a market capitalization of $221.02 billion.
• The company recently reported a quarterly EPS of $4.72, missing analysts' expectations, despite a revenue of $16.57 billion, which exceeded forecasts.

Caterpillar Inc. (NYSE:CAT - Get Free Report) Chairman Donald Umpleby III sold 17,166 shares of Caterpillar stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the sale, the chairman directly owned 465,339 shares of the company's stock, valued at approximately $215,289,088.35. This trade represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Caterpillar Stock Performance

NYSE:CAT traded down $0.33 during mid-day trading on Tuesday, reaching $471.77. 3,816,031 shares of the stock were exchanged, compared to its average volume of 2,762,669. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $485.34. The company has a 50 day simple moving average of $426.53 and a 200-day simple moving average of $370.38. The stock has a market capitalization of $221.02 billion, a P/E ratio of 24.00, a P/E/G ratio of 2.84 and a beta of 1.41.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. During the same quarter last year, the company earned $5.99 EPS. The firm's revenue for the quarter was down .7% compared to the same quarter last year. Analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CAT. Pacific Point Advisors LLC purchased a new stake in Caterpillar in the 4th quarter worth approximately $579,000. Brighton Jones LLC grew its holdings in Caterpillar by 51.5% during the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock worth $2,688,000 after acquiring an additional 2,519 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Caterpillar in the 4th quarter worth about $7,546,000. GTS Securities LLC increased its holdings in Caterpillar by 112.0% in the fourth quarter. GTS Securities LLC now owns 1,764 shares of the industrial products company's stock valued at $640,000 after buying an additional 16,472 shares during the last quarter. Finally, Ascent Group LLC grew its position in shares of Caterpillar by 44.0% in the 4th quarter. Ascent Group LLC now owns 1,639 shares of the industrial products company's stock worth $595,000 after acquiring an additional 501 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Barclays upped their price objective on Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Truist Financial lifted their price objective on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Melius Research upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price for the company in a research note on Wednesday, July 9th. Citigroup reiterated a "buy" rating on shares of Caterpillar in a research note on Tuesday. Finally, Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Caterpillar has a consensus rating of "Moderate Buy" and an average target price of $464.33.

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.

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