Client 1ST Advisory Group LLC Invests $217,000 in Caterpillar Inc. $CAT

Key Points

• Client 1ST Advisory Group LLC invested approximately $217,000 in Caterpillar Inc. by purchasing 559 shares during the second quarter.
• Insider transactions revealed that **Caterpillar**'s Director and Chairman sold shares, with Director Susan C. Schwab selling 2,324 shares and Chairman Donald J. Umpleby III selling 17,168 shares.
• Analysts have revised their price targets for Caterpillar, with recent targets ranging from $500 to $540, reflecting a generally positive outlook for the stock.

Client 1ST Advisory Group LLC purchased a new position in Caterpillar Inc. (NYSE:CAT - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 559 shares of the industrial products company's stock, valued at approximately $217,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Caterpillar by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock worth $26,037,000 after buying an additional 7,125 shares during the last quarter. Ransom Advisory Ltd purchased a new position in shares of Caterpillar in the 1st quarter worth about $427,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Caterpillar by 0.5% in 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 buying an additional 15,347 shares during the last quarter. Heartwood Wealth Advisors LLC lifted its holdings 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 valued at $1,155,000 after purchasing an additional 121 shares during the last quarter. Finally, Fiduciary Financial Group LLC lifted 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 purchasing an additional 857 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Caterpillar

In other news, Director Susan C. Schwab sold 2,324 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was 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 owned 482,505 shares in the company, valued at $199,211,839.35. This represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,819 shares of company stock worth $16,885,492. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on CAT. Truist Financial upped their price objective on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. upped their price objective on shares of Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Robert W. Baird increased their price target on shares of Caterpillar from $495.00 to $540.00 and gave the stock an "outperform" rating in a report on Wednesday, September 17th. Jefferies Financial Group reissued a "buy" rating and issued a $500.00 price target on shares of Caterpillar in a report 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 target on the stock in a report on Wednesday, July 9th. Two investment 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. According to data from MarketBeat, Caterpillar has an average rating of "Moderate Buy" and a consensus price target of $466.53.

Caterpillar Stock Up 1.1%

Shares of NYSE CAT opened at $477.03 on Wednesday. Caterpillar Inc. has a one year low of $267.30 and a one 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. The firm's 50 day simple moving average is $433.41 and its two-hundred day simple moving average is $375.62. The stock has a market capitalization of $223.48 billion, a P/E ratio of 24.26, a PEG ratio of 2.87 and a beta of 1.41.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter in the previous year, the business earned $5.99 earnings per share. The firm's revenue was down .7% on a year-over-year basis. As a group, analysts expect 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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