Caterpillar Inc. $CAT Shares Sold by Birmingham Capital Management Co. Inc. AL

Key Points

• Birmingham Capital Management Co. Inc. AL has reduced its stake in Caterpillar Inc. by 6.1%, now holding 41,525 shares valued at approximately $13.7 million, making it the firm's second-largest position.
• Caterpillar's latest quarterly earnings report showed an EPS of $4.72, missing analysts' expectations, with revenues of $16.57 billion, slightly down from the previous year’s figures.
• Several analysts have recently upgraded their ratings for Caterpillar, with price targets reaching as high as $507.00, contributing to a consensus target price of approximately $457.20.

Birmingham Capital Management Co. Inc. AL cut its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 6.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,525 shares of the industrial products company's stock after selling 2,710 shares during the quarter. Caterpillar accounts for about 5.2% of Birmingham Capital Management Co. Inc. AL's investment portfolio, making the stock its 2nd largest holding. Birmingham Capital Management Co. Inc. AL's holdings in Caterpillar were worth $13,695,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Investment Management Corp VA ADV bought a new position in shares of Caterpillar during the 4th quarter valued at $33,000. Mpwm Advisory Solutions LLC bought a new position in Caterpillar in the fourth quarter valued at about $36,000. Mattson Financial Services LLC purchased a new position in Caterpillar in the fourth quarter worth about $39,000. Curat Global LLC bought a new stake in shares of Caterpillar during the 1st quarter valued at about $33,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Caterpillar during the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CAT. Evercore ISI upgraded shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price for the company in a research report on Tuesday, August 19th. Oppenheimer cut their price objective on shares of Caterpillar from $493.00 to $480.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. Truist Financial raised their target price on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Citigroup boosted their price target on Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Melius Research raised Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective on the stock in a research report on Wednesday, July 9th. Two investment 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $457.20.

Caterpillar Price Performance

Shares of NYSE CAT traded down $0.28 during mid-day trading on Friday, hitting $431.10. 2,341,271 shares of the company's stock traded hands, compared to its average volume of 2,399,245. The company has a market capitalization of $201.96 billion, a P/E ratio of 21.93, a PEG ratio of 2.62 and a beta of 1.41. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $441.15. The company's 50-day moving average is $420.04 and its two-hundred day moving average is $365.32. 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 (NYSE:CAT - Get Free Report) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $16.14 billion. During the same period in the prior year, the firm posted $5.99 EPS. The business's revenue for the quarter was down .7% compared to the same quarter last year. On average, equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Transactions at Caterpillar

In related news, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider owned 8,632 shares of the company's stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director directly owned 6,917 shares of the company's stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,653 shares of company stock worth $8,943,642. Insiders own 0.33% of the company's stock.

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.