Caterpillar Inc. $CAT Stake Raised by CX Institutional

Key Points

• CX Institutional increased its holdings in Caterpillar Inc. by 8.4% during the 2nd quarter, owning 33,518 shares worth approximately $13 million.
• Insider sales included Jason Kaiser and Susan C. Schwab, who sold shares worth over $1.8 million collectively, indicating a decrease in their positions by approximately 20% and 25%, respectively.
• Several financial analysts have raised their price targets for Caterpillar, with Barclays increasing it to $425.00 and Bank of America to $495.00, reflecting strong confidence in the company's prospects.

CX Institutional increased its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 8.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,518 shares of the industrial products company's stock after acquiring an additional 2,600 shares during the period. CX Institutional's holdings in Caterpillar were worth $13,012,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Compass Financial Services Inc raised its stake in shares of 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 purchasing an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in shares of Caterpillar during the 2nd quarter worth about $32,000. Investment Management Corp VA ADV purchased a new stake in shares of Caterpillar during the 4th quarter worth about $33,000. Curat Global LLC purchased a new stake in shares of Caterpillar during the 1st quarter worth about $33,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Caterpillar during the 1st quarter worth about $33,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction that occurred 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director directly owned 6,917 shares in the company, 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 21,653 shares of company stock valued at $8,943,642 in the last 90 days. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CAT shares. Barclays raised their price target on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Bank of America increased their price objective on Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Oppenheimer lowered their price objective on Caterpillar from $493.00 to $480.00 and set an "outperform" rating on the stock in a report on Friday, August 29th. Truist Financial increased 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. Finally, Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a report on Wednesday, July 9th. Two 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $460.20.

Caterpillar Stock Performance

CAT opened at $466.62 on Friday. The firm has a market capitalization of $218.60 billion, a P/E ratio of 23.73, a price-to-earnings-growth ratio of 2.84 and a beta of 1.41. The stock's 50 day moving average price is $425.21 and its two-hundred day moving average price is $369.13. 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 Inc. has a 12-month low of $267.30 and a 12-month high of $472.12.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). The business had revenue of $16.57 billion during 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%. The business's quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the business earned $5.99 EPS. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current 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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