Intech Investment Management LLC lowered its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 31.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 158,689 shares of the industrial products company's stock after selling 72,453 shares during the period. Caterpillar accounts for approximately 0.5% of Intech Investment Management LLC's holdings, making the stock its 26th biggest holding. Intech Investment Management LLC's holdings in Caterpillar were worth $52,336,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Caterpillar by 9.9% during the 1st 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 purchasing an additional 7,125 shares during the period. Victrix Investment Advisors acquired a new stake in shares of Caterpillar during the fourth quarter valued at approximately $2,090,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Caterpillar by 0.5% during 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 shares of Caterpillar during the first quarter valued at approximately $427,000. Finally, Pacific Point Advisors LLC acquired a new position in Caterpillar in the 4th quarter valued at approximately $579,000. Institutional investors own 70.98% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have weighed in on CAT. 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 research note on Friday, August 29th. Truist Financial upped 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. Bank of America boosted their target price on shares of Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price for the company in a research report on Wednesday, July 9th. Finally, Evercore ISI raised shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price for the company in a research report on Tuesday, August 19th. Two 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 company currently has an average rating of "Moderate Buy" and a consensus price target of $457.20.
Check Out Our Latest Stock Report on Caterpillar
Insider Buying and Selling
In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction dated 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 transaction, the insider owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman directly 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 disclosure for this sale can be found here. Insiders sold 21,653 shares of company stock valued at $8,943,642 over the last quarter. 0.33% of the stock is owned by company insiders.
Caterpillar Stock Up 1.0%
CAT traded up $4.40 during trading on Monday, reaching $435.92. 1,014,397 shares of the stock were exchanged, compared to its average volume of 2,721,240. The stock has a market cap of $204.22 billion, a P/E ratio of 22.17, a price-to-earnings-growth ratio of 2.62 and a beta of 1.41. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15. The stock's 50 day moving average price is $420.04 and its two-hundred day moving average price is $365.49. 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 (NYSE:CAT - Get Free Report) last issued its earnings results 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 for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the previous year, the firm posted $5.99 earnings per share. Caterpillar's quarterly revenue was down .7% on a year-over-year basis. Equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.
Caterpillar Company Profile
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Free Report)
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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