Secure Asset Management LLC Purchases Shares of 749 Caterpillar Inc. $CAT

Key Points

• Secure Asset Management LLC has acquired a new position in Caterpillar Inc. by purchasing 749 shares, valued at about $291,000.
• Caterpillar's Chairman, Donald J. Umpleby III, sold 17,168 shares of the stock for over $7 million, marking a 3.44% decrease in his ownership.
• Analysts are optimistic about Caterpillar, with Melius Research and Citigroup upgrading their ratings and establishing a price target of $500 per share.

Secure Asset Management LLC purchased a new position in Caterpillar Inc. (NYSE:CAT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 749 shares of the industrial products company's stock, valued at approximately $291,000.

Other institutional investors have also made changes to their positions in the company. Investment Management Corp VA ADV bought a new stake in Caterpillar during the fourth quarter worth approximately $33,000. Compass Financial Services Inc lifted its position in shares of Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock worth $31,000 after buying an additional 31 shares during the period. Mattson Financial Services LLC bought a new position in shares of Caterpillar during the 4th quarter worth approximately $39,000. Curat Global LLC acquired a new position in Caterpillar during the first quarter worth $33,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Caterpillar during the first quarter valued at $33,000. 70.98% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the sale, the chairman directly owned 482,505 shares in the company, valued at $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,653 shares of company stock worth $8,943,642 over the last three months. Corporate insiders own 0.33% of the company's stock.

Caterpillar Stock Down 0.1%

Shares of CAT stock traded down $0.34 during trading hours on Friday, hitting $466.62. 5,066,694 shares of the company were exchanged, compared to its average volume of 2,369,601. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $472.12. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The business has a 50 day moving average of $425.21 and a two-hundred day moving average of $369.34. The company has a market capitalization of $218.60 billion, a PE ratio of 23.73, a PEG ratio of 2.84 and a beta of 1.41.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a "buy" rating and issued a $500.00 target price on shares of Caterpillar in a report on Friday, August 29th. Truist Financial lifted their target price on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Barclays boosted their target price on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Bank of America lifted their price objective on Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, Evercore ISI upgraded Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price for the company in a research note on Tuesday, August 19th. Two 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $460.20.

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.