Hodges Capital Management Inc. Has $4.22 Million Holdings in Caterpillar Inc. $CAT

Key Points

• Hodges Capital Management Inc. reduced its holdings in Caterpillar Inc. by 41.7% in the first quarter, now owning 12,801 shares valued at approximately $4.22 million.
• Various hedge funds have adjusted their stakes in Caterpillar, with MIRAE ASSET GLOBAL ETFS HOLDINGS increasing its stake by 9.9%, now owning 78,947 shares worth $26.04 million.
• Caterpillar's stock currently has an average price target of $457.20, with analysts rating it as a "Moderate Buy," indicating positive expectations for future performance.

Hodges Capital Management Inc. lessened its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 41.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 12,801 shares of the industrial products company's stock after selling 9,169 shares during the period. Hodges Capital Management Inc.'s holdings in Caterpillar were worth $4,222,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Caterpillar by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock valued at $26,037,000 after acquiring an additional 7,125 shares during the period. Victrix Investment Advisors acquired a new stake in Caterpillar in the fourth quarter valued at approximately $2,090,000. Charles Schwab Investment Management Inc. grew its stake in Caterpillar by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock valued at $1,089,798,000 after acquiring an additional 15,347 shares during the period. Ransom Advisory Ltd acquired a new stake in Caterpillar in the first quarter valued at approximately $427,000. Finally, Pacific Point Advisors LLC acquired a new stake in Caterpillar in the fourth quarter valued at approximately $579,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Buying and Selling

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the company's stock in a transaction 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 owned 482,505 shares of the company's stock, valued at $199,211,839.35. This represents a 3.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,653 shares of company stock worth $8,943,642. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $431.62 on Friday. The business's fifty day simple moving average is $419.41 and its 200 day simple moving average is $364.55. The firm has a market capitalization of $202.21 billion, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 2.57 and a beta of 1.41. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $441.15. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). The business 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 was down .7% compared to the same quarter last year. During the same quarter last year, the business posted $5.99 earnings per share. As a group, analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Citigroup lifted their target price on Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price on the stock in a research report on Wednesday, July 9th. Evercore ISI raised Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price on the stock in a research report on Tuesday, August 19th. Finally, Truist Financial lifted their target price on Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $457.20.

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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