Hilltop National Bank Takes Position in Caterpillar Inc. $CAT

Key Points

• Hilltop National Bank acquired a new stake in Caterpillar Inc., purchasing 3,141 shares valued at approximately $1,219,000 during the 2nd quarter.
• Analysts have recently raised their price targets for Caterpillar, with Truist Financial increasing its target from $414 to $507 and maintaining a "buy" rating.
• Caterpillar reported earnings per share of $4.72 for the last quarter, falling short of analysts' expectations of $4.88, despite a revenue increase compared to estimates.

Hilltop National Bank bought a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,141 shares of the industrial products company's stock, valued at approximately $1,219,000.

A number of other large investors have also recently added to or reduced their stakes in CAT. Compass Financial Services Inc boosted its stake in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC bought a new position in Caterpillar during the 2nd quarter valued at $32,000. Curat Global LLC bought a new position in Caterpillar during the 1st quarter valued at $33,000. Redmont Wealth Advisors LLC bought a new position in Caterpillar during the 1st quarter valued at $33,000. Finally, Fiduciary Wealth Partners LLC bought a new position in Caterpillar during the 1st quarter valued at $45,000. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on CAT. Truist Financial increased their price objective on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Melius raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Evercore ISI raised shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price on the stock in a report on Tuesday, August 19th. 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 report on Wednesday, August 6th. Finally, Oppenheimer increased their target price on shares of Caterpillar from $480.00 to $513.00 and gave the stock an "outperform" rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Caterpillar currently has a consensus rating of "Moderate Buy" and a consensus price target of $466.53.

Caterpillar Stock Up 2.1%

CAT stock opened at $490.88 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $495.98. The firm's 50-day simple moving average is $435.71 and its 200 day simple moving average is $377.37. The stock has a market cap of $229.97 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 2.92 and a beta of 1.46.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same period last year, the business earned $5.99 EPS. The firm's revenue was down .7% on a year-over-year basis. As a group, sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Buying and Selling

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

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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