Chicago Capital LLC Reduces Holdings in Caterpillar Inc. $CAT

Key Points

• Chicago Capital LLC has significantly reduced its holdings in Caterpillar Inc. by 62.6%, owning 5,959 shares after selling 9,975 shares, with a total value of $2,313,000 at the end of the last quarter.
• Other institutional investors have increased their stakes in Caterpillar, with notable increases such as Trivium Point Advisory LLC boosting its position by 132.9%, while hedge funds collectively own 70.98% of the company's stock.
• Analysts have raised price targets for Caterpillar shares, with Robert W. Baird setting a new target at $540.00, reflecting a strong overall market confidence in the stock.

Chicago Capital LLC decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 62.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,959 shares of the industrial products company's stock after selling 9,975 shares during the period. Chicago Capital LLC's holdings in Caterpillar were worth $2,313,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Trivium Point Advisory LLC boosted its position in Caterpillar by 132.9% in the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company's stock valued at $748,000 after buying an additional 1,099 shares during the last quarter. Paradiem LLC boosted its position in Caterpillar by 5.7% in the 2nd quarter. Paradiem LLC now owns 31,597 shares of the industrial products company's stock worth $12,266,000 after purchasing an additional 1,704 shares in the last quarter. Robbins Farley raised its stake in shares of Caterpillar by 1.8% during the 2nd quarter. Robbins Farley now owns 14,933 shares of the industrial products company's stock worth $5,797,000 after buying an additional 266 shares during the period. Park Place Capital Corp raised its stake in shares of Caterpillar by 47.6% during the 2nd quarter. Park Place Capital Corp now owns 124 shares of the industrial products company's stock worth $48,000 after buying an additional 40 shares during the period. Finally, XML Financial LLC raised its stake in shares of Caterpillar by 3.8% during the 2nd quarter. XML Financial LLC now owns 4,542 shares of the industrial products company's stock worth $1,763,000 after buying an additional 167 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

Wall Street Analyst Weigh In

CAT has been the subject of several research reports. Robert W. Baird boosted their price target on Caterpillar from $495.00 to $540.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 17th. DA Davidson increased their price target on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Truist Financial increased their price target on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Citigroup restated a "buy" rating on shares of Caterpillar in a report on Tuesday, September 23rd. Finally, Barclays increased their price target on Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $466.53.

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the business's 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 completion of the transaction, the chairman directly owned 482,505 shares of the company's stock, valued at $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the business's 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,819 shares of company stock valued at $16,885,492 over the last three months. 0.33% of the stock is currently owned by insiders.

Caterpillar Stock Up 1.3%

Caterpillar stock opened at $471.68 on Tuesday. The stock's 50 day moving average price is $432.21 and its 200 day moving average price is $374.91. The company has a market cap of $220.97 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 2.83 and a beta of 1.41. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $485.34. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). The firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business's revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.99 earnings per share. On average, sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal 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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