Caterpillar Inc. $CAT Shares Acquired by Kestra Investment Management LLC

Key Points

• Kestra Investment Management LLC significantly increased its stake in Caterpillar Inc. by 52.5%, bringing its total holdings to 2,017 shares valued at approximately $665,000.
• Caterpillar recently reported earnings of $4.72 per share, missing estimates, while the company also announced a dividend increase from $1.41 to $1.51 per share.
• Analysts maintain a generally positive outlook for Caterpillar, with target prices ranging from $331.00 to $500.00 and a consensus rating of "Moderate Buy."

Kestra Investment Management LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 52.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,017 shares of the industrial products company's stock after purchasing an additional 694 shares during the quarter. Kestra Investment Management LLC's holdings in Caterpillar were worth $665,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 last quarter. Victrix Investment Advisors bought a new position in Caterpillar in the 4th quarter valued at $2,090,000. Charles Schwab Investment Management Inc. grew its position in Caterpillar by 0.5% in the 1st 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 last quarter. Pacific Point Advisors LLC bought a new position in Caterpillar in the 4th quarter valued at $579,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in Caterpillar by 18.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock valued at $63,202,000 after acquiring an additional 30,070 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Caterpillar Stock Down 0.1%

Caterpillar stock traded down $0.28 during midday trading on Friday, reaching $431.10. The company's stock had a trading volume of 2,341,271 shares, compared to its average volume of 2,399,245. The stock's 50-day simple moving average is $420.04 and its 200-day simple moving average is $365.32. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $441.15. The stock has a market capitalization of $201.96 billion, a P/E ratio of 21.93, a PEG ratio of 2.62 and a beta of 1.41.

Caterpillar (NYSE:CAT - Get Free Report) last released 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). 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 analysts' expectations of $16.14 billion. During the same quarter last year, the business posted $5.99 earnings per share. The company's quarterly revenue was down .7% compared to the same quarter last year. On average, sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CAT. Evercore ISI raised Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price objective on the stock in a research report on Tuesday, August 19th. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a research report on Wednesday, July 9th. JPMorgan Chase & Co. upped their price objective on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Oppenheimer dropped their price target on Caterpillar from $493.00 to $480.00 and set an "outperform" rating on the stock in a research report on Friday, August 29th. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Two 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $457.20.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,653 shares of company stock worth $8,943,642. 0.33% of the stock is owned by insiders.

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.