Caterpillar Inc. $CAT Shares Sold by Union Bancaire Privee UBP SA

Key Points

• Union Bancaire Privee UBP SA has reduced its holdings in Caterpillar Inc. by 31.2% during the 2nd quarter, now owning 18,458 shares worth approximately $7.17 million.
• Melius Research upgraded Caterpillar's rating from "hold" to "strong-buy" with a price target of $500, while Robert W. Baird raised its price objective to $540.
• Insider trading activity revealed that key executives sold significant portions of their shares, with insiders collectively selling 38,819 shares valued at nearly $16.89 million in the last three months.

Union Bancaire Privee UBP SA lowered its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 31.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,458 shares of the industrial products company's stock after selling 8,386 shares during the quarter. Union Bancaire Privee UBP SA's holdings in Caterpillar were worth $7,166,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Caterpillar by 9.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock worth $26,037,000 after purchasing an additional 7,125 shares during the period. Ransom Advisory Ltd acquired a new stake in shares of Caterpillar during the 1st quarter worth approximately $427,000. Charles Schwab Investment Management Inc. raised its position in shares of Caterpillar by 0.5% during the 1st 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 purchasing an additional 15,347 shares during the period. Heartwood Wealth Advisors LLC raised its position in shares of Caterpillar by 4.2% during the 2nd quarter. Heartwood Wealth Advisors LLC now owns 2,975 shares of the industrial products company's stock worth $1,155,000 after purchasing an additional 121 shares during the period. Finally, Fiduciary Financial Group LLC raised its position in shares of Caterpillar by 81.2% during the 2nd quarter. Fiduciary Financial Group LLC now owns 1,913 shares of the industrial products company's stock worth $748,000 after purchasing an additional 857 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Melius Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target on the stock in a research report on Wednesday, July 9th. Robert W. Baird increased their price objective on Caterpillar from $495.00 to $540.00 and gave the stock an "outperform" rating in a report on Wednesday, September 17th. Citigroup reissued a "buy" rating on shares of Caterpillar in a report on Tuesday, September 23rd. Truist Financial increased their price objective on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, Barclays increased their price objective on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Caterpillar currently has an average rating of "Moderate Buy" and a consensus target price of $466.53.

Insider Transactions at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction on Monday, August 11th. The stock was 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 $3,605,586.40. This trade represents a 20.02% 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 value of $952,840.00. Following the completion of the sale, the director 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 sold a total of 38,819 shares of company stock valued at $16,885,492 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $471.68 on Tuesday. The stock has a fifty day moving average price of $432.21 and a two-hundred day moving average price of $374.91. 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 firm has a market cap of $220.97 billion, a P/E ratio of 23.99, a PEG ratio of 2.83 and a beta of 1.41. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $485.34.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data 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 company had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business's revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business earned $5.99 earnings per share. Research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

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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