Caterpillar Inc. $CAT Stock Position Increased by Inspire Investing LLC

Key Points

• Inspire Investing LLC increased its stake in Caterpillar Inc. by 6.7%, now owning 46,037 shares valued at approximately $15.18 million.
• Chairman Donald J. Umpleby III sold 17,168 shares valued at over $7 million, representing a decrease of 3.44% in his ownership.
• Analysts have recently upgraded Caterpillar's price targets, with Citigroup raising their target from $460 to $500, reflecting a positive outlook on the stock.

Inspire Investing LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 46,037 shares of the industrial products company's stock after buying an additional 2,873 shares during the quarter. Caterpillar comprises approximately 1.8% of Inspire Investing LLC's portfolio, making the stock its 4th largest position. Inspire Investing LLC's holdings in Caterpillar were worth $15,183,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAT. Invst LLC increased its position in shares of Caterpillar by 62.0% during the first quarter. Invst LLC now owns 1,074 shares of the industrial products company's stock worth $354,000 after acquiring an additional 411 shares during the period. Modern Wealth Management LLC increased its position in shares of Caterpillar by 3.1% during the first quarter. Modern Wealth Management LLC now owns 10,217 shares of the industrial products company's stock worth $3,370,000 after acquiring an additional 310 shares during the period. Strs Ohio purchased a new stake in shares of Caterpillar during the first quarter worth $43,865,000. Jacobi Capital Management LLC increased its position in shares of Caterpillar by 1.2% during the first quarter. Jacobi Capital Management LLC now owns 12,416 shares of the industrial products company's stock worth $4,095,000 after acquiring an additional 149 shares during the period. Finally, Advisors Capital Management LLC increased its position in shares of Caterpillar by 2.3% during the first quarter. Advisors Capital Management LLC now owns 72,184 shares of the industrial products company's stock worth $23,806,000 after acquiring an additional 1,636 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Buying and Selling

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares of the company's stock, valued at $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider directly owned 8,632 shares of the company's stock, valued at $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,653 shares of company stock valued at $8,943,642 over the last ninety days. Corporate insiders own 0.33% of the company's stock.

Caterpillar Price Performance

Shares of CAT opened at $431.62 on Friday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $441.15. The company has a market capitalization of $202.21 billion, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 2.57 and a beta of 1.41. The firm has a 50-day simple moving average of $419.41 and a 200-day simple moving average of $364.55. 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 (NYSE:CAT - Get Free Report) last announced its 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 return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter last year, the company posted $5.99 EPS. Caterpillar's quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CAT. Citigroup upped their price objective on Caterpillar from $460.00 to $500.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price for the company in a research note on Wednesday, July 9th. DA Davidson boosted their target price on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Truist Financial boosted their target price on shares of Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Barclays boosted their target price on shares of Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $457.20.

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.

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.