KG&L Capital Management LLC Has $775,000 Stake in Caterpillar Inc. $CAT

Key Points

• KG&L Capital Management LLC reduced its stake in Caterpillar Inc. by 58.1%, owning 2,029 shares worth approximately $775,000 after selling 2,819 shares during the second quarter.
• Caterpillar's stock reached an all-time high of $485.34, having a market cap of $218.34 billion and a P/E ratio of 23.71.
• The company reported a quarterly earnings per share (EPS) of $4.72, falling short of expectations of $4.88, with total revenue of $16.57 billion for the quarter.

KG&L Capital Management LLC trimmed its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 58.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,029 shares of the industrial products company's stock after selling 2,819 shares during the period. KG&L Capital Management LLC's holdings in Caterpillar were worth $775,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CAT. Compass Financial Services Inc lifted its holdings in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock worth $31,000 after purchasing an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC acquired a new stake in Caterpillar during the 2nd quarter worth approximately $32,000. Curat Global LLC acquired a new stake in Caterpillar during the 1st quarter worth approximately $33,000. Redmont Wealth Advisors LLC acquired a new stake in Caterpillar during the 1st quarter worth approximately $33,000. Finally, Fiduciary Wealth Partners LLC acquired a new stake in Caterpillar during the 1st quarter worth approximately $45,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

Caterpillar stock opened at $466.06 on Friday. Caterpillar Inc. has a one year low of $267.30 and a one year high of $485.34. The stock's fifty day moving average price is $430.98 and its two-hundred day moving average price is $373.71. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The firm has a market cap of $218.34 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 2.83 and a beta of 1.41.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $16.14 billion. During the same quarter in the previous year, the business posted $5.99 EPS. The company's revenue for the quarter was down .7% on a year-over-year basis. As a group, research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Activity

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman owned 482,505 shares in the company, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar 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 completion of the transaction, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,819 shares of company stock worth $16,885,492. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

CAT has been the subject of several research reports. Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. Truist Financial lifted their price target on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Citigroup restated a "buy" rating on shares of Caterpillar in a research note on Tuesday. Finally, Barclays raised their price objective on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Two 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $464.33.

About Caterpillar

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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