Caterpillar Inc. $CAT Shares Acquired by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC increased its stake in Caterpillar Inc. by 8.4%, owning a total of 12,842 shares valued at approximately $4.98 million.
• Caterpillar reported a quarterly earnings per share (EPS) of $4.72, missing estimates by $0.16, with total revenue of $16.57 billion for the quarter.
• Insider sales included transactions by Jason Kaiser and Donald J. Umpleby III, collectively selling over 19,000 shares for approximately $8.9 million.

Farther Finance Advisors LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 8.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 12,842 shares of the industrial products company's stock after acquiring an additional 999 shares during the period. Farther Finance Advisors LLC's holdings in Caterpillar were worth $4,985,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Caterpillar by 2.4% in 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 during the period. Allen Wealth Management LLC boosted its holdings in Caterpillar by 0.8% during the 1st quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company's stock valued at $1,322,000 after acquiring an additional 30 shares during the period. Warwick Investment Management Inc. increased its holdings in shares of Caterpillar by 2.6% during the first quarter. Warwick Investment Management Inc. now owns 1,167 shares of the industrial products company's stock valued at $385,000 after acquiring an additional 30 shares in the last quarter. Compass Financial Services Inc lifted 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 valued at $31,000 after purchasing an additional 31 shares in the last quarter. Finally, Summit X LLC increased its stake in Caterpillar by 3.2% during the first quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock worth $338,000 after acquiring an additional 32 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of Caterpillar stock traded down $0.34 during midday trading on Friday, hitting $466.62. The company had a trading volume of 5,066,694 shares, compared to its average volume of 2,433,813. The company has a fifty day simple moving average of $425.21 and a 200 day simple moving average of $369.54. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $472.12. The stock has a market cap of $218.60 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 2.84 and a beta of 1.41. 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 released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). The company had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.Caterpillar's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the company earned $5.99 EPS. As a group, analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CAT. Truist Financial lifted their price target on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Oppenheimer lowered their target price on shares of Caterpillar from $493.00 to $480.00 and set an "outperform" rating on the stock in a research note on Friday, August 29th. Citigroup boosted their price objective on shares of Caterpillar from $460.00 to $500.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Finally, Barclays raised their price target on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $460.20.

Insider Activity at Caterpillar

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the transaction, the chairman owned 482,505 shares of the company's stock, valued at $199,211,839.35. This trade represents a 3.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following 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 21,653 shares of company stock valued at $8,943,642 in the last three months. Corporate insiders own 0.33% of the company's stock.

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.