2,275 Shares in Caterpillar Inc. $CAT Bought by Canandaigua National Trust Co of Florida

Key Points

• Canandaigua National Trust Co of Florida acquired 2,275 shares of Caterpillar Inc. for approximately $883,000 during the second quarter.
• Insider transactions included Chairman Donald J. Umpleby III selling 17,168 shares worth $7.1 million, representing a decrease of 3.44% in his ownership in the company.
• Caterpillar's stock has a current market cap of $201.96 billion, with shares trading between a 52-week low of $267.30 and a high of $441.15.

Canandaigua National Trust Co of Florida purchased a new position in Caterpillar Inc. (NYSE:CAT - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,275 shares of the industrial products company's stock, valued at approximately $883,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAT. Compass Financial Services Inc boosted its holdings in Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock worth $31,000 after acquiring an additional 31 shares in the last quarter. Investment Management Corp VA ADV bought a new stake in Caterpillar in the fourth quarter worth $33,000. Curat Global LLC bought a new stake in Caterpillar in the first quarter worth $33,000. Redmont Wealth Advisors LLC bought a new stake in Caterpillar in the first quarter worth $33,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in Caterpillar in the fourth quarter worth $36,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the sale, the chairman owned 482,505 shares in the company, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director owned 6,917 shares of the company's stock, valued at $2,835,970. This represents a 25.15% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,653 shares of company stock worth $8,943,642. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Oppenheimer dropped their target price on Caterpillar from $493.00 to $480.00 and set an "outperform" rating on the stock in a report on Friday, August 29th. JPMorgan Chase & Co. upped their price target on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Finally, Melius Research raised Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $457.20.

Caterpillar Stock Performance

Shares of CAT opened at $431.10 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The business has a 50-day simple moving average of $420.04 and a two-hundred day simple moving average of $365.49. The stock has a market cap of $201.96 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 2.62 and a beta of 1.41. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $441.15.

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

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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