Diversified Trust Co Cuts Stock Position in Caterpillar Inc. $CAT

Key Points

• Diversified Trust Co reduced its stake in Caterpillar Inc. by 27.0% in the second quarter, leaving it with 7,694 shares valued at approximately $2.99 million.
• Caterpillar's Chairman, Donald J. Umpleby III, sold 17,168 shares at an average price of $412.87, resulting in a total transaction value of over $7 million.
• Analysts have raised their price targets for Caterpillar, with Citigroup increasing its target from $460 to $500, and Truist Financial raising theirs from $414 to $507, reflecting a consensus rating of "Moderate Buy."

Diversified Trust Co trimmed its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 27.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,694 shares of the industrial products company's stock after selling 2,848 shares during the quarter. Diversified Trust Co's holdings in Caterpillar were worth $2,987,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in CAT. Compass Financial Services Inc increased its position 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 worth $31,000 after purchasing an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC acquired a new position in Caterpillar during the second quarter worth $32,000. Curat Global LLC acquired a new position in Caterpillar during the first quarter worth $33,000. Redmont Wealth Advisors LLC acquired a new position in Caterpillar during the first quarter worth $33,000. Finally, Mattson Financial Services LLC acquired a new position in Caterpillar during the fourth quarter worth $39,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction dated 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 owned 482,505 shares in the company, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction dated 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 transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. The trade was a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,653 shares of company stock worth $8,943,642. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Citigroup boosted their price objective on Caterpillar from $460.00 to $500.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. DA Davidson boosted their price objective on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Truist Financial boosted their price objective on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Barclays boosted their price objective on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Two equities 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.com, Caterpillar has a consensus rating of "Moderate Buy" and an average target price of $460.20.

Caterpillar Price Performance

CAT stock opened at $466.62 on Friday. 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 has a market capitalization of $218.60 billion, a P/E ratio of 23.73, a P/E/G ratio of 2.84 and a beta of 1.41. The business's 50-day moving average is $425.21 and its two-hundred day moving average is $369.34. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $472.12.

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

Caterpillar 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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