Jump Financial LLC Purchases 85,496 Shares of Caterpillar Inc. $CAT

Key Points

• Jump Financial LLC significantly increased its stake in Caterpillar Inc. by 12,354.9% in the 1st quarter, acquiring 85,496 shares, bringing its total holdings to 86,188 shares valued at approximately $28.4 million.
• Several institutional investors, including GAMMA Investing LLC and Pacer Advisors Inc., made substantial increases to their positions in Caterpillar during the same quarter, reflecting strong interest in the stock.
• Research analysts have raised their price targets for Caterpillar, with a consensus target of $450.87 and multiple firms assigning Buy or Outperform ratings, suggesting optimism for the company's future performance.

Jump Financial LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 12,354.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,188 shares of the industrial products company's stock after acquiring an additional 85,496 shares during the quarter. Jump Financial LLC's holdings in Caterpillar were worth $28,425,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CAT. GAMMA Investing LLC boosted its stake in Caterpillar by 43,447.3% during the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock worth $1,230,239,000 after acquiring an additional 3,721,693 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Caterpillar by 2,723.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock worth $466,430,000 after acquiring an additional 1,364,183 shares during the last quarter. Nuveen LLC bought a new position in Caterpillar during the 1st quarter worth approximately $391,788,000. Northern Trust Corp boosted its stake in Caterpillar by 11.8% during the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock worth $2,483,937,000 after acquiring an additional 724,477 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Caterpillar by 8.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,940,391 shares of the industrial products company's stock worth $1,429,416,000 after acquiring an additional 312,878 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CAT shares. Evercore ISI raised shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price target on the stock in a research note on Tuesday. Oppenheimer lifted their price target on shares of Caterpillar from $395.00 to $483.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and lifted their price target for the company from $272.00 to $357.00 in a research note on Friday, May 16th. Truist Financial lifted their price target 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. Finally, Citigroup lifted their price target on shares of Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Caterpillar currently has an average rating of "Moderate Buy" and a consensus price target of $450.87.

Insiders Place Their Bets

In related news, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider directly owned 8,632 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Caterpillar Price Performance

NYSE CAT opened at $435.0040 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 12-month low of $267.30 and a 12-month high of $441.15. The company has a market capitalization of $203.79 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 2.49 and a beta of 1.40. The firm's 50 day moving average is $405.71 and its 200-day moving average is $357.81.

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 (EPS) for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same quarter last year, the business earned $5.99 earnings per share. Caterpillar's revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, July 21st were issued a dividend of $1.51 per share. The ex-dividend date was Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a yield of 1.4%. Caterpillar's dividend payout ratio is presently 30.72%.

Caterpillar 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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