Hall Laurie J Trustee Has $739,000 Stock Holdings in Caterpillar Inc. $CAT

Key Points

• Hall Laurie J Trustee reduced its stake in Caterpillar Inc. by 30.4% in Q2 2023, holding 1,903 shares valued at approximately $739,000.
• Several institutional investors, including Eaton Financial Holdings and Bank of Stockton, adjusted their positions in Caterpillar, reflecting a robust institutional ownership of 70.98%.
• Recent analyst reports have upgraded Caterpillar's ratings; Evercore ISI set a price target of $476.00, raising its rating to "outperform."

Hall Laurie J Trustee lowered its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 30.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,903 shares of the industrial products company's stock after selling 830 shares during the quarter. Hall Laurie J Trustee's holdings in Caterpillar were worth $739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Eaton Financial Holdings Company LLC acquired a new position in Caterpillar during the 2nd quarter worth about $417,000. Focused Wealth Management Inc raised its holdings in Caterpillar by 2.1% during the 2nd quarter. Focused Wealth Management Inc now owns 8,133 shares of the industrial products company's stock worth $3,157,000 after purchasing an additional 171 shares during the last quarter. Bank of Stockton lifted its position in shares of Caterpillar by 6.5% in the 2nd quarter. Bank of Stockton now owns 2,488 shares of the industrial products company's stock worth $966,000 after purchasing an additional 151 shares during the period. GSB Wealth Management LLC boosted its stake in shares of Caterpillar by 1.2% in the 2nd quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company's stock valued at $832,000 after purchasing an additional 26 shares during the last quarter. Finally, West Oak Capital LLC increased its position in shares of Caterpillar by 0.8% during the second quarter. West Oak Capital LLC now owns 4,972 shares of the industrial products company's stock worth $1,930,000 after buying an additional 40 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction that occurred on 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 sale, the insider owned 8,632 shares in the company, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction that occurred 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 transaction, the chairman directly owned 482,505 shares in the company, valued at $199,211,839.35. This trade represents a 3.44% 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 quarter. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CAT. Evercore ISI raised Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price objective for the company in a research report on Tuesday, August 19th. Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective for the company in a research report on Wednesday, July 9th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Barclays increased their target price 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. Finally, Oppenheimer dropped their price objective on shares of Caterpillar from $493.00 to $480.00 and set an "outperform" rating on the stock in a report on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $462.87.

Caterpillar Price Performance

NYSE:CAT opened at $471.97 on Tuesday. The firm has a market capitalization of $221.11 billion, a price-to-earnings ratio of 24.01, a P/E/G ratio of 2.84 and a beta of 1.41. 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 fifty day moving average of $426.53 and a 200 day moving average of $370.38. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $473.24.

Caterpillar (NYSE:CAT - Get Free Report) last posted 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 company had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business posted $5.99 EPS. On average, research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal 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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