583 Shares in Caterpillar Inc. $CAT Acquired by Nova R Wealth Inc.

Key Points

• Nova R Wealth Inc. acquired 583 shares of Caterpillar Inc., with a total investment of approximately $226,000, during the second quarter of the year.
• Caterpillar's stock has seen significant interest from institutional investors, with over 70% of its stock owned by such investors, reflecting strong market confidence.
• Analysts have set various price targets for Caterpillar's stock, with a consensus average rating of "Moderate Buy" and a price target averaging $464.33.

Nova R Wealth Inc. acquired a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 583 shares of the industrial products company's stock, valued at approximately $226,000.

Other large investors also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Caterpillar by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company's stock worth $1,386,626,000 after acquiring an additional 264,054 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Caterpillar by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock worth $1,089,798,000 after purchasing an additional 15,347 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Caterpillar by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company's stock valued at $1,064,951,000 after purchasing an additional 268,300 shares during the period. Invesco Ltd. grew its holdings in Caterpillar by 5.0% in the 1st quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company's stock valued at $1,036,211,000 after buying an additional 150,533 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Caterpillar by 0.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,416,464 shares of the industrial products company's stock worth $467,150,000 after buying an additional 5,559 shares during the period. 70.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Citigroup reissued a "buy" rating on shares of Caterpillar in a research report on Tuesday, September 23rd. DA Davidson boosted their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Barclays lifted their price target on shares of Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Evercore ISI raised Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price target on the stock in a research report on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Caterpillar currently has an average rating of "Moderate Buy" and an average price target of $464.33.

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $462.65, for a total value of $7,941,849.90. Following the completion of the transaction, the chairman owned 465,339 shares of the company's stock, valued at $215,289,088.35. This represents a 3.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,819 shares of company stock valued at $16,885,492 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Performance

Caterpillar stock opened at $466.06 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 stock has a market cap of $218.34 billion, a PE ratio of 23.71, a P/E/G ratio of 2.83 and a beta of 1.41. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $485.34. The business's 50-day moving average price is $430.98 and its two-hundred day moving average price is $373.99.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. During the same period in the previous year, the company earned $5.99 EPS. Caterpillar's revenue for the quarter was down .7% on a year-over-year basis. As a group, analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar 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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