Global Trust Asset Management LLC Has $1.79 Million Stock Position in Caterpillar Inc. $CAT

Key Points

• Global Trust Asset Management LLC reduced its stake in Caterpillar Inc. by 15.7%, holding a total of 4,605 shares valued at approximately $1.79 million as of the end of the second quarter.
• Institutional investors currently own 70.98% of Caterpillar's stock, with several firms increasing their stakes during the same period, indicating strong institutional interest.
• Analysts have set new price targets for Caterpillar, with recommendations ranging from a "Strong Buy" to "Hold," and an average target price projected at $464.33.

Global Trust Asset Management LLC lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 15.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,605 shares of the industrial products company's stock after selling 858 shares during the period. Caterpillar comprises 1.0% of Global Trust Asset Management LLC's portfolio, making the stock its 20th largest holding. Global Trust Asset Management LLC's holdings in Caterpillar were worth $1,788,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Investment Advisory Services Inc. TX ADV boosted its stake in Caterpillar by 24.2% during the second quarter. Investment Advisory Services Inc. TX ADV now owns 1,681 shares of the industrial products company's stock worth $653,000 after buying an additional 328 shares in the last quarter. Independence Bank of Kentucky boosted its stake in Caterpillar by 1.9% during the second quarter. Independence Bank of Kentucky now owns 2,214 shares of the industrial products company's stock worth $859,000 after buying an additional 42 shares in the last quarter. Smith Salley Wealth Management boosted its stake in Caterpillar by 3.5% during the second quarter. Smith Salley Wealth Management now owns 13,059 shares of the industrial products company's stock worth $5,070,000 after buying an additional 442 shares in the last quarter. Wagner Wealth Management LLC boosted its stake in Caterpillar by 84.2% during the second quarter. Wagner Wealth Management LLC now owns 1,615 shares of the industrial products company's stock worth $627,000 after buying an additional 738 shares in the last quarter. Finally, Sonora Investment Management Group LLC boosted its stake in Caterpillar by 19.3% during the second quarter. Sonora Investment Management Group LLC now owns 22,019 shares of the industrial products company's stock worth $8,548,000 after buying an additional 3,568 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CAT. Barclays lifted their price target on shares of Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Citigroup restated a "buy" rating on shares of Caterpillar in a research report on Tuesday, September 23rd. Melius Research upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target on the stock in a research report on Wednesday, July 9th. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. lifted their price target on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $464.33.

Insiders Place Their Bets

In other news, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. The trade was a 25.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the business's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $462.65, for a total value of $7,941,849.90. Following the transaction, the chairman owned 465,339 shares of the company's stock, valued at $215,289,088.35. The trade was a 3.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,819 shares of company stock valued at $16,885,492. 0.33% of the stock is currently owned by insiders.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $466.06 on Monday. The stock has a market capitalization of $218.34 billion, a P/E ratio of 23.71, a P/E/G ratio of 2.83 and a beta of 1.41. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $485.34. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The business has a 50-day moving average price of $430.98 and a two-hundred day moving average price of $373.99.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). The firm had revenue of $16.57 billion for 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 business'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 posted $5.99 earnings per share. Equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current 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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