Caterpillar Inc. $CAT Shares Acquired by Dakota Wealth Management

Key Points

• Dakota Wealth Management increased its stake in Caterpillar by 111.1% during the second quarter, acquiring an additional 39,839 shares, bringing their total holdings to 75,704 shares valued at approximately $29.39 million.
• Caterpillar reported an EPS of $4.72 for the last quarter, missing estimates by $0.16, with revenues of $16.57 billion, exceeding analyst expectations.
• Several analysts have raised their price targets on Caterpillar shares, with JPMorgan and Robert W. Baird setting new targets of $520.00 and $540.00, respectively, reflecting positive sentiment among investment analysts.

Dakota Wealth Management lifted its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 111.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,704 shares of the industrial products company's stock after acquiring an additional 39,839 shares during the quarter. Dakota Wealth Management's holdings in Caterpillar were worth $29,389,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Compass Financial Services Inc grew its position in 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 buying an additional 31 shares during the period. Family Legacy Financial Solutions LLC purchased a new stake in shares of Caterpillar in the second quarter valued at about $32,000. Curat Global LLC purchased a new stake in shares of Caterpillar in the first quarter valued at about $33,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Caterpillar in the first quarter valued at about $33,000. Finally, Mattson Financial Services LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at about $39,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Price Performance

Caterpillar stock opened at $470.50 on Thursday. The firm has a fifty day moving average of $429.02 and a 200-day moving average of $371.77. The firm has a market capitalization of $220.42 billion, a P/E ratio of 23.93, a PEG ratio of 2.86 and a beta of 1.41. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $485.34. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). The firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. Caterpillar's revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the business posted $5.99 earnings per share. As a group, analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction 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 represents a 3.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Susan C. Schwab sold 2,324 shares of the 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 transaction, the director owned 6,917 shares in the company, valued at $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. Insiders have sold 38,819 shares of company stock worth $16,885,492 in the last ninety days. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Robert W. Baird upped their price objective on shares of Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Melius raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target for the company in a research report on Wednesday, July 9th. Bank of America upped their price target on shares of Caterpillar from $495.00 to $517.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target for the company in a research report on Wednesday, July 9th. Two investment 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $464.33.

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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