AQR Capital Management LLC Has $26.63 Million Stock Position in Caterpillar Inc. $CAT

Key Points

• AQR Capital Management LLC reduced its stake in Caterpillar Inc. by 7.6%, owning 81,978 shares valued at approximately $26.63 million after selling 6,767 shares.
• Caterpillar's stock price increased to $431.62, with a 52-week range of $267.30 to $441.15, while the company reported quarterly earnings of $4.72 per share, missing estimates of $4.88.
• Recent analyst reports indicate a generally positive outlook for Caterpillar, with multiple firms upgrading their price targets and ratings, resulting in an average rating of "Moderate Buy".

AQR Capital Management LLC decreased its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 7.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 81,978 shares of the industrial products company's stock after selling 6,767 shares during the period. AQR Capital Management LLC's holdings in Caterpillar were worth $26,632,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of CAT. Investment Management Corp VA ADV bought a new stake in Caterpillar in the 4th quarter valued at approximately $33,000. Curat Global LLC bought a new stake in shares of Caterpillar during the 1st quarter worth approximately $33,000. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar during the 1st quarter worth approximately $33,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Caterpillar during the 4th quarter worth approximately $36,000. Finally, Mattson Financial Services LLC bought a new stake in shares of Caterpillar during the 4th quarter worth approximately $39,000. Institutional investors own 70.98% of the company's stock.

Caterpillar Stock Performance

CAT traded up $8.71 during trading hours on Thursday, reaching $431.62. The company's stock had a trading volume of 2,737,694 shares, compared to its average volume of 2,733,555. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $441.15. The company's 50-day moving average is $418.76 and its 200-day moving average is $363.91. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The firm has a market cap of $202.21 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 2.54 and a beta of 1.41.

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 analysts' consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same period in the prior year, the company earned $5.99 earnings per share. The business's quarterly revenue was down .7% compared to the same quarter last year. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider directly owned 8,632 shares of the company's stock, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% 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 valued at $8,943,642 in the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CAT shares. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $272.00 to $357.00 in a research note on Friday, May 16th. Truist Financial upped their price objective on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Bank of America upped their price objective on Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Barclays upped their price objective on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Finally, Citigroup upped their price objective on Caterpillar from $460.00 to $500.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $457.20.

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.