Goldstone Financial Group LLC Has $1.37 Million Stock Position in Caterpillar Inc. $CAT

Key Points

• Goldstone Financial Group LLC increased its stake in Caterpillar Inc. by 33.3% during the second quarter, bringing its total holdings to 3,430 shares valued at approximately $1.37 million.
• Major institutional investors have also significantly increased their stakes in Caterpillar, with GAMMA Investing LLC raising its holdings by an extraordinary 43,447.3%.
• Caterpillar's stock recently received several analyst upgrades, with JPMorgan Chase raising its price target from $475.00 to $520.00 and maintaining an "overweight" rating for the stock.

Goldstone Financial Group LLC increased its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 33.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,430 shares of the industrial products company's stock after purchasing an additional 857 shares during the quarter. Goldstone Financial Group LLC's holdings in Caterpillar were worth $1,365,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CAT. GAMMA Investing LLC lifted its holdings in shares of Caterpillar by 43,447.3% during the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock valued at $1,230,239,000 after purchasing an additional 3,721,693 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Caterpillar by 2,723.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock worth $466,430,000 after purchasing an additional 1,364,183 shares in the last quarter. Nuveen LLC bought a new stake in shares of Caterpillar during the 1st quarter worth approximately $391,788,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Caterpillar by 8.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,940,391 shares of the industrial products company's stock worth $1,429,416,000 after purchasing an additional 312,878 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $108,958,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Caterpillar

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction dated 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 sale, the chairman directly owned 482,505 shares in the company, valued at $199,211,839.35. This represents a 3.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the sale, the insider owned 8,632 shares of the company's stock, valued at $3,605,586.40. This 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 worth $8,943,642 in the last ninety days. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Jefferies Financial Group restated a "buy" rating and set a $500.00 price objective on shares of Caterpillar in a research report on Friday, August 29th. DA Davidson upped their price objective on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Barclays increased their target price on Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Truist Financial raised their price objective on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Two investment 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. According to MarketBeat.com, Caterpillar presently has an average rating of "Moderate Buy" and a consensus price target of $457.20.

Caterpillar Stock Performance

NYSE:CAT opened at $431.10 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $441.15. The firm has a market cap of $201.96 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 2.62 and a beta of 1.41. The business's fifty day moving average is $420.04 and its 200 day moving average is $365.49.

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 the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. During the same quarter in the previous year, the firm earned $5.99 earnings per share. Caterpillar's quarterly revenue was down .7% compared to the same quarter last year. Research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

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.

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