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Caterpillar Inc. $CAT Shares Purchased by Focus Partners Wealth

Caterpillar logo with Industrials background

Key Points

  • Focus Partners Wealth increased its stake in Caterpillar Inc. by 10.3% during the first quarter, now owning 291,012 shares valued at approximately $95.98 million.
  • Institutional investors collectively hold 70.98% of Caterpillar's stock, with several firms like Victrix and Wealth Enhancement increasing their positions.
  • Recent analyst ratings show a mix of optimism, with target prices ranging from $357.00 to $520.00, indicating a generally positive outlook for Caterpillar's performance.
  • MarketBeat previews top five stocks to own in November.

Focus Partners Wealth boosted its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 291,012 shares of the industrial products company's stock after purchasing an additional 27,166 shares during the quarter. Focus Partners Wealth owned about 0.06% of Caterpillar worth $95,976,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CAT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Caterpillar by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock worth $26,037,000 after buying an additional 7,125 shares during the last quarter. Victrix Investment Advisors bought a new stake in shares of Caterpillar in the 4th quarter worth about $2,090,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Caterpillar by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock worth $1,089,798,000 after buying an additional 15,347 shares during the last quarter. Ransom Advisory Ltd bought a new stake in shares of Caterpillar in the 1st quarter worth about $427,000. Finally, Pacific Point Advisors LLC bought a new stake in shares of Caterpillar in the 4th quarter worth about $579,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on CAT shares. DA Davidson boosted their target price on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. JPMorgan Chase & Co. upped their price target on shares of Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Citigroup upped their price target on shares of Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Barclays upped their price target on shares of Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Two 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $457.20.

View Our Latest Research Report on Caterpillar

Insider Activity at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction on Monday, August 11th. The shares were 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 approximately $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction 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 represents 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. Insiders own 0.33% of the company's stock.

Caterpillar Stock Up 1.0%

NYSE:CAT traded up $4.40 during midday trading on Monday, reaching $435.92. 1,014,397 shares of the stock traded hands, compared to its average volume of 2,721,240. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $441.15. The business has a 50-day moving average of $420.04 and a two-hundred day moving average of $365.49. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The stock has a market capitalization of $204.22 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 2.62 and a beta of 1.41.

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). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. During the same period in the previous year, the company earned $5.99 EPS. The company's revenue was down .7% on a year-over-year basis. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

About Caterpillar

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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