Caterpillar Inc. $CAT Shares Purchased by Bell Bank

Key Points

• Bell Bank significantly increased its position in Caterpillar Inc. by 55.9% in the second quarter, owning approximately 2,492 shares valued at $967,000.
• Several analysts have raised their price targets for Caterpillar, with JPMorgan Chase & Co. now setting a target of $520 and Robert W. Baird increasing it to $540.
• In recent insider activity, Chairman Donald J. Umpleby III sold 17,168 shares for around $7.1 million, reducing his holdings by 3.44%.

Bell Bank grew its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 55.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,492 shares of the industrial products company's stock after acquiring an additional 894 shares during the quarter. Bell Bank's holdings in Caterpillar were worth $967,000 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. boosted its stake in 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 valued at $26,037,000 after purchasing an additional 7,125 shares in the last quarter. Ransom Advisory Ltd bought a new stake in shares of Caterpillar during the 1st quarter worth $427,000. Charles Schwab Investment Management Inc. boosted its stake 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 acquiring an additional 15,347 shares in the last quarter. Heartwood Wealth Advisors LLC raised its holdings in shares of Caterpillar by 4.2% during the second quarter. Heartwood Wealth Advisors LLC now owns 2,975 shares of the industrial products company's stock worth $1,155,000 after acquiring an additional 121 shares in the last quarter. Finally, Fiduciary Financial Group LLC raised its holdings in Caterpillar by 81.2% during the second quarter. Fiduciary Financial Group LLC now owns 1,913 shares of the industrial products company's stock valued at $748,000 after buying an additional 857 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CAT shares. JPMorgan Chase & Co. lifted their target price on Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Sanford C. Bernstein restated a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Bank of America upped their target price on shares of Caterpillar from $495.00 to $517.00 and gave the stock a "buy" rating in a research note on Monday. Jefferies Financial Group reiterated a "buy" rating and issued a $500.00 target price on shares of Caterpillar in a research note on Friday, August 29th. Finally, Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $464.33.

Caterpillar Stock Up 0.7%

Shares of Caterpillar stock traded up $3.19 during trading on Tuesday, hitting $475.29. The company's stock had a trading volume of 1,587,836 shares, compared to its average volume of 2,753,222. The company has a market capitalization of $222.67 billion, a PE ratio of 24.15, a P/E/G ratio of 2.84 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $485.34. The company has a fifty day simple moving average of $426.53 and a two-hundred day simple moving average of $370.38.

Caterpillar (NYSE:CAT - Get Free Report) last issued 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 firm had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. During the same period in the prior year, the firm earned $5.99 EPS. Caterpillar's revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Activity

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares of the company's stock, valued at $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,653 shares of company stock worth $8,943,642 over the last quarter. Insiders own 0.33% of the company's stock.

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.