Caterpillar Inc. $CAT Shares Sold by Cooper Financial Group

Key Points

• Cooper Financial Group reduced its holdings in Caterpillar Inc. by 21.9% in the second quarter, now owning 4,348 shares valued at approximately $1.69 million.
• Caterpillar reported earnings of $4.72 EPS for the last quarter, below analysts' expectations, with revenues of $16.57 billion that slightly surpassed forecasts.
• Institutional investors and hedge funds own 70.98% of Caterpillar's stock, indicating strong institutional interest in the company.

Cooper Financial Group lowered its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 21.9% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 4,348 shares of the industrial products company's stock after selling 1,221 shares during the quarter. Cooper Financial Group's holdings in Caterpillar were worth $1,688,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Compass Financial Services Inc lifted its position in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock worth $31,000 after acquiring an additional 31 shares during the period. Family Legacy Financial Solutions LLC acquired a new stake in Caterpillar during the 2nd quarter worth about $32,000. Curat Global LLC acquired a new stake in Caterpillar during the 1st quarter worth about $33,000. Redmont Wealth Advisors LLC acquired a new stake in Caterpillar during the 1st quarter worth about $33,000. Finally, Fiduciary Wealth Partners LLC acquired a new stake in Caterpillar during the 1st quarter worth about $45,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Price Performance

NYSE:CAT opened at $477.03 on Wednesday. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $485.34. The stock has a 50 day moving average of $433.41 and a two-hundred day moving average of $375.62. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The firm has a market cap of $223.48 billion, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 2.87 and a beta of 1.41.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. During the same quarter last year, the firm posted $5.99 earnings per share. Caterpillar's quarterly revenue was down .7% on a year-over-year basis. On average, analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Truist Financial boosted their price objective on Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Barclays boosted their price objective on Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Melius Research raised Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Finally, DA Davidson boosted their price objective on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Caterpillar currently has a consensus rating of "Moderate Buy" and an average target price of $466.53.

Insiders Place Their Bets

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,166 shares of the business's stock in a transaction that occurred 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 sale, the chairman directly owned 465,339 shares in the company, valued at approximately $215,289,088.35. The trade was a 3.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the insider 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,819 shares of company stock worth $16,885,492. Corporate insiders own 0.33% of the company's stock.

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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