Caterpillar Inc. $CAT Shares Acquired by Cullinan Associates Inc.

Key Points

• Cullinan Associates Inc. increased its stake in Caterpillar by 1.8%, now owning 35,666 shares, representing approximately $13.8 million of their total holdings.
• Caterpillar's stock has reached a 1-year high of $504.48 with a current market cap of $233.53 billion, showing strong investor interest.
• Despite reporting a miss on EPS estimates for the last quarter, Caterpillar's revenue was better than expected, signaling resilience amid mixed performance.

Cullinan Associates Inc. boosted its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 1.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,666 shares of the industrial products company's stock after purchasing an additional 644 shares during the quarter. Caterpillar comprises about 0.9% of Cullinan Associates Inc.'s holdings, making the stock its 29th largest position. Cullinan Associates Inc.'s holdings in Caterpillar were worth $13,846,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CAT. Family Legacy Financial Solutions LLC acquired a new position in Caterpillar in the 2nd quarter valued at $32,000. Compass Financial Services Inc increased its stake in Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 31 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new position in Caterpillar during the first quarter worth about $33,000. Maseco LLP acquired a new stake in Caterpillar in the 2nd quarter worth about $45,000. Finally, Park Place Capital Corp grew its holdings in Caterpillar by 47.6% in the 2nd quarter. Park Place Capital Corp now owns 124 shares of the industrial products company's stock valued at $48,000 after buying an additional 40 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

CAT stock opened at $498.48 on Monday. The firm has a market cap of $233.53 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 3.03 and a beta of 1.46. 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 1 year low of $267.30 and a 1 year high of $504.48. The stock has a 50-day simple moving average of $436.99 and a 200-day simple moving average of $379.06.

Caterpillar (NYSE:CAT - Get Free Report) last released 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). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same period last year, the firm posted $5.99 earnings per share. The business's revenue was down .7% on a year-over-year basis. On average, equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider directly owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the business's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the completion of the transaction, the chairman owned 465,339 shares in the company, valued at $215,289,088.35. This represents a 3.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 38,819 shares of company stock valued at $16,885,492. Corporate insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of Caterpillar from $495.00 to $517.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Evercore ISI raised shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price target on the stock in a research note on Tuesday, August 19th. Oppenheimer boosted their price objective on shares of Caterpillar from $480.00 to $513.00 and gave the company an "outperform" rating in a research note on Monday, September 29th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Caterpillar in a report on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Caterpillar currently has a consensus rating of "Moderate Buy" and an average target price of $466.53.

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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