B. Metzler seel. Sohn & Co. AG Cuts Holdings in Caterpillar Inc. $CAT

Key Points

• B. Metzler seel. Sohn & Co. AG reduced its stake in Caterpillar Inc. by 45.1%, selling 55,961 shares and leaving it with 68,180 shares worth approximately $22.5 million.
• Multiple institutional investors recently made new positions in Caterpillar, reflecting ongoing interest, with hedge funds holding 70.98% of the company's stock.
• Caterpillar's quarterly earnings showed a miss in EPS at $4.72 compared to estimates of $4.88, although revenue exceeded expectations at $16.57 billion.

B. Metzler seel. Sohn & Co. AG lowered its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 45.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,180 shares of the industrial products company's stock after selling 55,961 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in Caterpillar were worth $22,486,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAT. Investment Management Corp VA ADV purchased a new position in Caterpillar in the fourth quarter worth about $33,000. Curat Global LLC purchased a new position in Caterpillar in the first quarter worth about $33,000. Redmont Wealth Advisors LLC purchased a new position in Caterpillar in the first quarter worth about $33,000. Quarry LP purchased a new position in Caterpillar in the fourth quarter worth about $35,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in Caterpillar in the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analysts Set New Price Targets

CAT has been the subject of several analyst reports. Baird R W raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Truist Financial raised their price objective on shares of Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Citigroup raised their price objective on shares of Caterpillar from $460.00 to $500.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective for the company in a research note on Wednesday, July 9th. Finally, DA Davidson raised their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $450.87.

Caterpillar Stock Performance

Caterpillar stock opened at $431.05 on Wednesday. The company has a market capitalization of $201.94 billion, a PE ratio of 21.93, a P/E/G ratio of 2.58 and a beta of 1.40. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $441.15. 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 company has a 50 day moving average price of $408.58 and a 200-day moving average price of $358.73.

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). The business had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business's quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned $5.99 EPS. As a group, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, July 21st were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.4%. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend was Monday, July 21st. Caterpillar's payout ratio is presently 30.72%.

Insider Buying and Selling

In other 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 transaction of $902,649.70. Following the transaction, the insider directly owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the transaction, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company's stock.

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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