Bard Financial Services Inc. Grows Stock Holdings 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 holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 144.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,090 shares of the industrial products company's stock after buying an additional 1,825 shares during the period. Bard Financial Services Inc.'s holdings in Caterpillar were worth $1,200,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CAT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Caterpillar by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock worth $26,037,000 after purchasing an additional 7,125 shares in the last quarter. Victrix Investment Advisors purchased a new position in shares of Caterpillar in the fourth quarter worth $2,090,000. Charles Schwab Investment Management Inc. boosted its position in shares of Caterpillar by 0.5% during the first 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 acquiring an additional 15,347 shares during the last quarter. Ransom Advisory Ltd purchased a new position in Caterpillar during the first quarter valued at $427,000. Finally, Pacific Point Advisors LLC bought a new stake in Caterpillar in the 4th quarter valued at $579,000. Institutional investors own 70.98% of the company's stock.

Caterpillar Price Performance

Caterpillar stock opened at $431.10 on Monday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $441.15. 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 firm has a 50-day moving average price of $420.04 and a 200-day moving average price of $365.49. The firm has a market capitalization of $201.96 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 2.62 and a beta of 1.41.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results 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). The firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.99 earnings per share. As a group, equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on CAT shares. Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Robert W. Baird dropped their price target on Caterpillar from $500.00 to $495.00 and set an "outperform" rating for the company in a research note on Friday, August 29th. Oppenheimer reduced their price objective on Caterpillar from $493.00 to $480.00 and set an "outperform" rating on the stock in a research note on Friday, August 29th. Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price for the company in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $457.20.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the 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 sale, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director directly owned 6,917 shares of the company's stock, valued at $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,653 shares of company stock worth $8,943,642. 0.33% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.