Caterpillar Inc. $CAT Shares Sold by AAFMAA Wealth Management & Trust LLC

Key Points

• AAFMAA Wealth Management & Trust LLC has reduced its stake in Caterpillar Inc. by 32.2%, now holding 3,961 shares valued at approximately $1.54 million.
• Several institutional investors have increased their stakes in Caterpillar, with UBS AM raising its position by 6.7%, while GAMMA Investing LLC saw a staggering increase of 43,447.3% in their shareholding.
• Brokerages have set new price targets for Caterpillar, with Truist Financial increasing its target from $414.00 to $507.00 and Robert W. Baird boosting theirs from $495.00 to $540.00.

AAFMAA Wealth Management & Trust LLC decreased its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 32.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,961 shares of the industrial products company's stock after selling 1,885 shares during the period. AAFMAA Wealth Management & Trust LLC's holdings in Caterpillar were worth $1,538,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CAT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Caterpillar by 6.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company's stock worth $1,386,626,000 after buying an additional 264,054 shares during the period. GAMMA Investing LLC grew its stake in shares of Caterpillar by 43,447.3% in the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock worth $1,230,239,000 after acquiring an additional 3,721,693 shares in the last quarter. Charles Schwab Investment Management Inc. increased 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 period. Goldman Sachs Group Inc. raised its stake in shares of Caterpillar by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company's stock valued at $1,064,951,000 after acquiring an additional 268,300 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Caterpillar by 5.0% in the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company's stock valued at $1,036,211,000 after purchasing an additional 150,533 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on CAT. Truist Financial raised their target price on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Robert W. Baird boosted their target price on shares of Caterpillar from $495.00 to $540.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 17th. Sanford C. Bernstein restated a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Barclays boosted their target price on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $500.00 price target on shares of Caterpillar in a research note on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $464.33.

Insider Buying and Selling at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of the business'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 value of $902,649.70. Following the transaction, the insider owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the sale, the chairman directly owned 482,505 shares of the company's stock, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is currently owned by insiders.

Caterpillar Trading Down 1.3%

Shares of Caterpillar stock opened at $463.76 on Friday. The company's fifty day moving average is $429.93 and its two-hundred day moving average is $372.59. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $485.34. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The company has a market capitalization of $217.26 billion, a P/E ratio of 23.59, a PEG ratio of 2.86 and a beta of 1.41.

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

Caterpillar 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.

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.