Fiduciary Financial Group LLC Grows Position in Caterpillar Inc. $CAT

Key Points

• Fiduciary Financial Group LLC increased its stake in Caterpillar Inc. by 81.2%, owning 1,913 shares worth approximately $748,000 as of the latest SEC filing.
• Analysts have issued positive ratings for Caterpillar, with Melius Research upgrading the stock to a "strong-buy" and a price target set at $500.00.
• Insider trading activity included the sale of 17,168 shares by Chairman Donald J. Umpleby III, valued at over $7 million, indicating a partial divestment of shares.

Fiduciary Financial Group LLC boosted its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 81.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,913 shares of the industrial products company's stock after purchasing an additional 857 shares during the period. Fiduciary Financial Group LLC's holdings in Caterpillar were worth $748,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Compass Financial Services Inc lifted its position in shares of Caterpillar by 49.2% during the 1st 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 last quarter. Investment Management Corp VA ADV bought a new stake in shares of Caterpillar during the 4th quarter valued at $33,000. Curat Global LLC bought a new stake in shares of Caterpillar during the 1st quarter valued at $33,000. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar during the 1st quarter valued at $33,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Caterpillar in the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CAT shares. 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 note on Wednesday. Evercore ISI upgraded Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price on the stock in a research note on Tuesday, August 19th. 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 note on Wednesday, August 6th. Barclays upped their target price 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, Citigroup increased their price objective on Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $460.20.

Caterpillar Stock Up 3.0%

Shares of Caterpillar stock traded up $13.56 on Thursday, reaching $464.22. The company's stock had a trading volume of 2,302,498 shares, compared to its average volume of 2,733,619. The company has a market capitalization of $217.48 billion, a price-to-earnings ratio of 23.66, a P/E/G ratio of 2.68 and a beta of 1.41. The firm's fifty day simple moving average is $422.81 and its two-hundred day simple moving average is $367.22. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $466.61. 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 posted 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). The business had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm's revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the business posted $5.99 EPS. Equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction on Friday, August 15th. The stock was 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 of the company's stock, valued at $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar 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 sale, the chairman directly owned 482,505 shares of the company's stock, valued at $199,211,839.35. The trade was a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,653 shares of company stock valued at $8,943,642 over the last 90 days. Company insiders own 0.33% of the company's stock.

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.