Financial Insights Inc. Invests $200,000 in Caterpillar Inc. $CAT

Key Points

• Financial Insights Inc. has invested $200,000 in Caterpillar Inc. by acquiring 516 shares during the second quarter.
• Institutional investors now hold approximately 70.98% of Caterpillar's stock, with significant increases in stakes from firms like Pacer Advisors and Goldman Sachs.
• Analysts have raised their price targets for Caterpillar, with Bank of America increasing it to $517.00 and a majority rating the stock as a "buy."

Financial Insights Inc. bought a new position in Caterpillar Inc. (NYSE:CAT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 516 shares of the industrial products company's stock, valued at approximately $200,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in CAT. Pacer Advisors Inc. lifted its stake in Caterpillar by 2,723.1% in the first quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock worth $466,430,000 after acquiring an additional 1,364,183 shares during the period. Nuveen LLC purchased a new stake in Caterpillar in the first quarter worth $391,788,000. Assenagon Asset Management S.A. lifted its stake in Caterpillar by 546.6% in the second quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company's stock worth $327,297,000 after acquiring an additional 712,711 shares during the period. Goldman Sachs Group Inc. lifted its stake in Caterpillar by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company's stock worth $1,064,951,000 after acquiring an additional 268,300 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Caterpillar by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company's stock worth $1,386,626,000 after acquiring an additional 264,054 shares during the period. Institutional investors own 70.98% of the company's stock.

Insider Transactions at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of Caterpillar 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 owned 8,632 shares of the company's stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction dated 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 transaction, the director directly owned 6,917 shares of the company's stock, 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 sold a total of 38,819 shares of company stock valued at $16,885,492 in the last quarter. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Bank of America raised their price target on Caterpillar from $495.00 to $517.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Erste Group Bank raised Caterpillar from a "hold" rating to a "buy" rating in a research report on Friday. Jefferies Financial Group reissued a "buy" rating and set a $500.00 price objective on shares of Caterpillar in a research report 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, Truist Financial raised their price objective on Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Caterpillar has an average rating of "Moderate Buy" and an average price target of $466.53.

Caterpillar Price Performance

CAT opened at $498.48 on Friday. The stock has a 50-day moving average price of $436.99 and a 200-day moving average price of $378.76. 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 cap of $233.53 billion, a PE ratio of 25.35, a P/E/G ratio of 3.03 and a beta of 1.46. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $504.48.

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 the consensus estimate of $4.88 by ($0.16). The company had revenue of $16.57 billion during 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 period in the prior year, the firm earned $5.99 EPS. Sell-side analysts predict 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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