Caxton Associates LLP Invests $483,000 in Caterpillar Inc. $CAT

Key Points

• Caxton Associates LLP has invested approximately $483,000 in Caterpillar Inc., purchasing 1,465 shares in the first quarter.
• Caterpillar's recent earnings report showed a EPS of $4.72, missing expectations, but revenue surpassed estimates at $16.57 billion.
• Several brokerages have adjusted their price targets for Caterpillar, with new estimates ranging from $495 to $507, reflecting analyst optimism for the stock.

Caxton Associates LLP bought a new position in Caterpillar Inc. (NYSE:CAT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,465 shares of the industrial products company's stock, valued at approximately $483,000.

Several other large investors have also modified their holdings of CAT. Pacific Point Advisors LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at $579,000. Brighton Jones LLC increased its position in Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after acquiring an additional 2,519 shares in the last quarter. LMR Partners LLP increased its position in Caterpillar by 139.2% in the 4th quarter. LMR Partners LLP now owns 862 shares of the industrial products company's stock valued at $313,000 after acquiring an additional 3,060 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Caterpillar by 1.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,822 shares of the industrial products company's stock valued at $26,054,000 after acquiring an additional 708 shares in the last quarter. Finally, Prodigy Asset Management LLC bought a new position in shares of Caterpillar in the 4th quarter valued at about $363,000. 70.98% of the stock is owned by institutional investors.

Insider Activity

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the transaction, the director directly owned 6,917 shares of the company's stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares in the company, valued at $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 90 days, insiders sold 21,653 shares of company stock worth $8,943,642. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Truist Financial raised their target price on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. DA Davidson lifted their price objective 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. Bank of America lifted their price objective on shares of Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Melius raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Finally, Robert W. Baird cut their price target on shares of Caterpillar from $500.00 to $495.00 and set an "outperform" rating on the stock in a research note on Friday, August 29th. Two 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $457.20.

Caterpillar Stock Up 0.6%

NYSE CAT traded up $2.70 on Tuesday, reaching $438.64. The company had a trading volume of 1,039,488 shares, compared to its average volume of 2,718,902. The stock has a market capitalization of $205.49 billion, a P/E ratio of 22.34, a P/E/G ratio of 2.62 and a beta of 1.41. The company's fifty day moving average is $420.93 and its 200 day moving average is $366.13. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $441.15. 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 (NYSE:CAT - Get Free Report) last announced 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). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. During the same period last year, the business posted $5.99 EPS. The company's revenue was down .7% compared to the same quarter last year. Sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

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.