Czech National Bank Has $44.63 Million Position in Caterpillar Inc. $CAT

Key Points

• The Czech National Bank increased its stake in Caterpillar Inc. by 4.7%, bringing its total holdings to 114,961 shares valued at approximately $44.6 million.
• Insider trading saw Chairman Donald J. Umpleby III selling 17,168 shares for about $7.09 million, reducing his ownership by 3.44%.
• Analysts have raised their target price for Caterpillar, with several firms now projecting values between $495 to $507, indicating a comprehensive buy sentiment among experts.

Czech National Bank grew its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,961 shares of the industrial products company's stock after buying an additional 5,188 shares during the quarter. Czech National Bank's holdings in Caterpillar were worth $44,629,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Caterpillar by 2.4% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company's stock valued at $472,000 after buying an additional 29 shares in the last quarter. McIlrath & Eck LLC raised its holdings in Caterpillar by 3.2% during the fourth quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock valued at $349,000 after buying an additional 30 shares in the last quarter. Allen Wealth Management LLC raised its holdings in Caterpillar by 0.8% during the first quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company's stock valued at $1,322,000 after buying an additional 30 shares in the last quarter. Warwick Investment Management Inc. boosted its position in Caterpillar by 2.6% during the first quarter. Warwick Investment Management Inc. now owns 1,167 shares of the industrial products company's stock worth $385,000 after purchasing an additional 30 shares during the period. Finally, Compass Financial Services Inc boosted its position in Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock worth $31,000 after purchasing an additional 31 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of recent analyst reports. Robert W. Baird upped their target price on Caterpillar from $495.00 to $540.00 and gave the stock an "outperform" rating in a research report on Wednesday. Jefferies Financial Group reaffirmed a "buy" rating and set a $500.00 target price on shares of Caterpillar in a research report on Friday, August 29th. Bank of America upped their target price on Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. upped their target price on Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Finally, Truist Financial upped their target price on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Two investment 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 stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $460.20.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,161 shares of the firm'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 $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 Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the firm'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 approximately $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,653 shares of company stock valued at $8,943,642 over the last ninety days. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Performance

Shares of CAT stock traded up $16.97 during trading hours on Thursday, reaching $467.63. 4,330,366 shares of the company's stock were exchanged, compared to its average volume of 2,745,638. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $467.71. The stock has a market capitalization of $219.08 billion, a P/E ratio of 23.79, a P/E/G ratio of 2.68 and a beta of 1.41. The business has a fifty day moving average price of $423.99 and a 200-day moving average price of $368.16. 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 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 return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter last year, the firm earned $5.99 earnings per share. The firm's quarterly revenue was down .7% compared to the same quarter last year. 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.