Greenleaf Trust Has $6.07 Million Holdings in Caterpillar Inc. $CAT

Key Points

• Greenleaf Trust has reduced its holdings in Caterpillar Inc. by 4.7%, owning 15,634 shares valued at $6.07 million as of the latest SEC filing.
• Caterpillar reported earnings per share of $4.72 for the recent quarter, falling short of analysts' expectations of $4.88, although revenues of $16.57 billion exceeded forecasts.
• Wall Street analysts have increased their price targets for Caterpillar, with adjustments ranging from $425.00 to $520.00, indicating a strong sentiment towards the stock's growth potential.

Greenleaf Trust trimmed its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,634 shares of the industrial products company's stock after selling 777 shares during the period. Greenleaf Trust's holdings in Caterpillar were worth $6,069,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its holdings in Caterpillar by 2,723.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock valued at $466,430,000 after acquiring an additional 1,364,183 shares in the last quarter. Nuveen LLC bought a new position in shares of Caterpillar in the first quarter worth $391,788,000. Assenagon Asset Management S.A. raised 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 valued at $327,297,000 after purchasing an additional 712,711 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Caterpillar by 9.1% during 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 purchasing an additional 268,300 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Caterpillar by 6.7% during 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 buying an additional 264,054 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Stock Performance

NYSE CAT opened at $471.68 on Tuesday. The company has a fifty day moving average price of $432.21 and a 200-day moving average price of $374.91. The firm has a market cap of $220.97 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 2.83 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $485.34.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results 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 analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the firm posted $5.99 earnings per share. As a group, equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Barclays boosted their price objective on shares of Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Truist Financial raised their target price on Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Bank of America boosted their price target on Caterpillar from $495.00 to $517.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Finally, Melius Research raised Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $466.53.

Insider Activity

In other news, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider directly owned 8,632 shares of the company's stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. 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 over the last three months. Corporate insiders own 0.33% of the company's stock.

About Caterpillar

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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