Chapin Davis Inc. Sells 909 Shares of Caterpillar Inc. $CAT

Key Points

• Chapin Davis Inc. reduced its holdings in Caterpillar Inc. by 13.4%, selling 909 shares and ending with 5,877 shares valued at $2,281,000.
• Institutional investors collectively own 70.98% of Caterpillar's stock, with recent stake increases from firms such as MIRAE ASSET GLOBAL and Charles Schwab Investment Management.
• Caterpillar's stock has seen a price boost from multiple analysts, with target prices ranging from $425.00 to $540.00, reflecting a generally positive outlook despite a recent earnings miss.

Chapin Davis Inc. decreased its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 13.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,877 shares of the industrial products company's stock after selling 909 shares during the quarter. Chapin Davis Inc.'s holdings in Caterpillar were worth $2,281,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CAT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Caterpillar by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock worth $26,037,000 after acquiring an additional 7,125 shares in the last quarter. Ransom Advisory Ltd acquired a new position in Caterpillar during the first quarter worth about $427,000. Charles Schwab Investment Management Inc. raised its stake in Caterpillar by 0.5% during the first 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 stake in 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 stake 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 worth $748,000 after acquiring an additional 857 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Robert W. Baird boosted their target price on Caterpillar from $495.00 to $540.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 17th. Truist Financial boosted their target price on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Bank of America boosted their target price on Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Barclays upped their price objective on Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Finally, Oppenheimer lowered their price objective on Caterpillar from $493.00 to $480.00 and set an "outperform" rating for the company in a research note on Friday, August 29th. Two 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 MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $460.20.

Insider Buying and Selling

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman directly owned 482,505 shares in the company, valued at $199,211,839.35. This trade represents a 3.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction 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 owned 8,632 shares in the company, valued at approximately $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 have sold a total of 21,653 shares of company stock worth $8,943,642 in the last ninety days. Corporate insiders own 0.33% of the company's stock.

Caterpillar Price Performance

Caterpillar stock opened at $466.62 on Monday. The stock has a market capitalization of $218.60 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 2.84 and a beta of 1.41. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $472.12. The stock's 50 day moving average price is $425.21 and its two-hundred day moving average price is $369.54. 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 issued 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). 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 the consensus estimate of $16.14 billion. During the same quarter in the prior year, the business earned $5.99 earnings per share. Caterpillar's revenue for the quarter was down .7% on a year-over-year basis. On average, equities analysts predict 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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