Consolidated Capital Management LLC Increases Holdings in Caterpillar Inc. $CAT

Key Points

• Consolidated Capital Management LLC increased its stake in Caterpillar Inc. by 10.8% in Q2, bringing their total shares to 11,353, valued at approximately $4.4 million.
• Caterpillar's stock is currently trading at $466.06 with a market cap of $218.34 billion and has expressed strong institutional interest, with 70.98% of the stock owned by institutional investors.
• Despite missing earnings estimates with a reported $4.72 EPS, Caterpillar's revenue of $16.57 billion exceeded analysts' expectations for the quarter.

Consolidated Capital Management LLC increased its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 10.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,353 shares of the industrial products company's stock after purchasing an additional 1,107 shares during the quarter. Caterpillar makes up about 1.6% of Consolidated Capital Management LLC's portfolio, making the stock its 26th biggest position. Consolidated Capital Management LLC's holdings in Caterpillar were worth $4,407,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Compass Financial Services Inc increased its stake in shares of Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock valued at $31,000 after buying an additional 31 shares during the period. Family Legacy Financial Solutions LLC bought a new position in Caterpillar during the 2nd quarter worth about $32,000. Curat Global LLC purchased a new position in Caterpillar during the 1st quarter valued at about $33,000. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar in the 1st quarter valued at about $33,000. Finally, Fiduciary Wealth Partners LLC purchased a new stake in shares of Caterpillar in the 1st quarter worth approximately $45,000. 70.98% of the stock is owned by institutional investors.

Caterpillar Trading Up 0.5%

Caterpillar stock opened at $466.06 on Friday. The stock has a market cap of $218.34 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 2.83 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The stock has a 50-day moving average of $430.98 and a two-hundred day moving average of $373.71. Caterpillar Inc. has a one year low of $267.30 and a one year high of $485.34.

Caterpillar (NYSE:CAT - Get Free Report) last released its 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 return on equity of 48.95% and a net margin of 14.95%.The company had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same quarter last year, the business earned $5.99 earnings per share. The firm's revenue for the quarter was down .7% on a year-over-year basis. On average, research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Activity at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the company'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 completion of the sale, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,819 shares of company stock valued at $16,885,492 in the last ninety days. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

CAT has been the topic of several research reports. Truist Financial lifted 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. lifted their price target on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Oppenheimer decreased 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. DA Davidson raised their price objective on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $500.00 target price on shares of Caterpillar in a report on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Caterpillar presently has a consensus rating of "Moderate Buy" and a consensus target price of $464.33.

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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