Bard Financial Services Inc. Boosts Stake in Caterpillar Inc. $CAT

Key Points

• Bard Financial Services Inc. increased its stake in Caterpillar Inc. by 144.3%, owning a total of 3,090 shares valued at approximately $1.2 million as of its latest SEC filing.
• Caterpillar reported a $4.72 EPS for the last quarter, missing analyst expectations, while revenue was $16.57 billion, exceeding the consensus estimate.
• Institutional investors currently hold around 70.98% of Caterpillar's stock, indicating strong institutional interest in the company.

Bard Financial Services Inc. boosted its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 144.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,090 shares of the industrial products company's stock after purchasing an additional 1,825 shares during the quarter. Bard Financial Services Inc.'s holdings in Caterpillar were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. raised its position in Caterpillar by 2.4% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company's stock valued at $472,000 after purchasing an additional 29 shares in the last quarter. McIlrath & Eck LLC raised its holdings in shares of Caterpillar by 3.2% during the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock valued at $349,000 after buying an additional 30 shares in the last quarter. Allen Wealth Management LLC raised its holdings in shares of Caterpillar by 0.8% during the 1st quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company's stock valued at $1,322,000 after buying an additional 30 shares in the last quarter. Warwick Investment Management Inc. raised its holdings in shares of Caterpillar by 2.6% during the 1st quarter. Warwick Investment Management Inc. now owns 1,167 shares of the industrial products company's stock valued at $385,000 after buying an additional 30 shares in the last quarter. Finally, Compass Financial Services Inc raised its stake in shares of Caterpillar by 49.2% during 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. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Stock Performance

Shares of Caterpillar stock traded down $1.61 during trading on Friday, hitting $465.36. 2,097,415 shares of the company's stock traded hands, compared to its average volume of 2,741,066. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $472.12. The stock has a market capitalization of $218.01 billion, a P/E ratio of 23.66, a PEG ratio of 2.74 and a beta of 1.41. The business has a 50-day simple moving average of $423.99 and a 200-day simple moving average of $368.16.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (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 company had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. During the same period in the previous year, the business earned $5.99 EPS. The business's revenue was down .7% compared to the same quarter last year. As a group, analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the firm's stock in a transaction on 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 transaction, the chairman directly owned 482,505 shares in the company, valued at $199,211,839.35. This trade represents a 3.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Susan C. Schwab sold 2,324 shares of the firm's 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 completion of the transaction, the director directly owned 6,917 shares in the company, valued at $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 have sold a total of 21,653 shares of company stock worth $8,943,642 in the last ninety days. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on CAT shares. Robert W. Baird lifted their target price on shares of Caterpillar from $495.00 to $540.00 and gave the stock an "outperform" rating in a research report on Wednesday. Jefferies Financial Group reissued a "buy" rating and set a $500.00 target price on shares of Caterpillar in a research note on Friday, August 29th. Bank of America boosted their price objective on shares of Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Evercore ISI raised shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price objective on the stock in a research report on Tuesday, August 19th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $460.20.

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.