Beacon Investment Advisory Services Inc. Grows Stake in Caterpillar Inc. $CAT

Key Points

• Beacon Investment Advisory Services Inc. increased its stake in Caterpillar Inc. by 10% in Q2, owning 26,933 shares valued at approximately $10.46 million.
• Insider trades revealed that Director Susan C. Schwab sold 2,324 shares and insider Jason Kaiser sold 2,161 shares, indicating a significant reduction in their ownership stakes.
• Analysts have upgraded Caterpillar's stock ratings, with targets ranging up to $507, suggesting strong bullish sentiment towards the company's future performance.

Beacon Investment Advisory Services Inc. lifted its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 10.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,933 shares of the industrial products company's stock after purchasing an additional 2,440 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in Caterpillar were worth $10,456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CAT. DKM Wealth Management Inc. acquired a new position in Caterpillar during the second quarter worth about $227,000. Verum Partners LLC boosted its position in Caterpillar by 2.5% during the second quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company's stock worth $411,000 after acquiring an additional 26 shares during the last quarter. Wealth Effects LLC boosted its position in Caterpillar by 4.8% during the second quarter. Wealth Effects LLC now owns 3,063 shares of the industrial products company's stock worth $1,189,000 after acquiring an additional 141 shares during the last quarter. Mather Group LLC. boosted its position in Caterpillar by 55.9% during the second quarter. Mather Group LLC. now owns 19,450 shares of the industrial products company's stock worth $7,551,000 after acquiring an additional 6,976 shares during the last quarter. Finally, Kentucky Trust Co boosted its position in Caterpillar by 1.6% during the second quarter. Kentucky Trust Co now owns 6,058 shares of the industrial products company's stock worth $2,352,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Transactions at Caterpillar

In other news, Director Susan C. Schwab sold 2,324 shares of the company's stock in a transaction that occurred 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the company's stock in a transaction that occurred 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 sale, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CAT shares. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a research report on Wednesday, July 9th. Truist Financial boosted their price target on shares of Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Evercore ISI upgraded shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price on the stock in a report on Tuesday, August 19th. DA Davidson increased their price target on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Caterpillar presently has a consensus rating of "Moderate Buy" and a consensus target price of $464.33.

Caterpillar Stock Performance

Shares of CAT stock opened at $470.50 on Thursday. The firm's 50 day moving average price is $429.02 and its 200-day moving average price is $371.77. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar Inc. has a one year low of $267.30 and a one year high of $485.34. The firm has a market cap of $220.42 billion, a P/E ratio of 23.93, a P/E/G ratio of 2.86 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 the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the prior year, the company posted $5.99 earnings per share. The business's revenue was down .7% compared to the same quarter last year. As a group, equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Company 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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