Caterpillar Inc. $CAT Shares Sold by Beech Hill Advisors Inc.

Key Points

• Beech Hill Advisors Inc. has reduced its stake in Caterpillar Inc. by 14.5%, owning 3,250 shares valued at $1,262,000 after selling 550 shares in the second quarter.
• Caterpillar's Chairman, Donald J. Umpleby III, sold 17,168 shares at an average price of $412.87, resulting in a 3.44% decrease in his holdings.
• Several analysts have raised their price targets for Caterpillar stock, with Jefferies increasing their estimate to $570.00 and Barclays to $485.00, indicating a strong market outlook for the company.

Beech Hill Advisors Inc. reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 14.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,250 shares of the industrial products company's stock after selling 550 shares during the period. Beech Hill Advisors Inc.'s holdings in Caterpillar were worth $1,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. acquired a new stake in Caterpillar in the 2nd quarter worth approximately $28,000. Family Legacy Financial Solutions LLC acquired a new position in Caterpillar during the 2nd quarter valued at approximately $32,000. Harbor Asset Planning Inc. purchased a new position in shares of Caterpillar in the second quarter worth $34,000. Compass Financial Services Inc increased its position in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 31 shares during the period. Finally, Redmont Wealth Advisors LLC purchased a new position in Caterpillar in the 1st quarter worth $33,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the sale, the chairman directly owned 482,505 shares in the company, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the 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 of the company's stock, valued at $2,835,970. The trade was a 25.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,985 shares of company stock valued at $25,559,300 over the last ninety days. Corporate insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CAT shares. Barclays raised their price objective on Caterpillar from $425.00 to $485.00 and gave the stock an "equal weight" rating in a research note on Friday. Erste Group Bank raised shares of Caterpillar from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Jefferies Financial Group increased their price objective on shares of Caterpillar from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. Truist Financial raised their target price on shares of Caterpillar from $507.00 to $582.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Finally, Oppenheimer upped their price target on shares of Caterpillar from $480.00 to $513.00 and gave the company an "outperform" rating in a report on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $515.40.

Caterpillar Trading Up 0.9%

CAT stock opened at $531.80 on Tuesday. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $544.99. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The firm has a market cap of $249.13 billion, a P/E ratio of 27.05, a PEG ratio of 3.00 and a beta of 1.46. The company's 50-day simple moving average is $455.85 and its 200-day simple moving average is $393.23.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly 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 business had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. During the same quarter in the prior year, the firm earned $5.99 EPS. Caterpillar's revenue for the quarter was down .7% on a year-over-year basis. As a group, equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be given a dividend of $1.51 per share. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. Caterpillar's dividend payout ratio is currently 30.72%.

About Caterpillar

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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