Kingstone Capital Partners Texas LLC Purchases New Shares in Caterpillar Inc. $CAT

Key Points

• Kingstone Capital Partners Texas LLC has acquired a new stake in Caterpillar Inc., purchasing 14,760 shares valued at approximately $5,730,000 during the second quarter.
• Chairman Donald J. Umpleby III sold 17,168 shares for about $7,088,152, reducing his ownership in the company by 3.44%.
• Analyst ratings have generally improved for Caterpillar, with multiple firms raising their price targets and giving a mix of Buy and Outperform ratings.

Kingstone Capital Partners Texas LLC acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,760 shares of the industrial products company's stock, valued at approximately $5,730,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. lifted its position in Caterpillar by 2.4% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company's stock valued at $472,000 after buying an additional 29 shares during the period. Allen Wealth Management LLC lifted its position in Caterpillar by 0.8% during the first quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company's stock valued at $1,322,000 after buying an additional 30 shares during the period. Warwick Investment Management Inc. lifted its position in Caterpillar by 2.6% during the first quarter. Warwick Investment Management Inc. now owns 1,167 shares of the industrial products company's stock valued at $385,000 after buying an additional 30 shares during the period. Compass Financial Services Inc lifted its position in Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock valued at $31,000 after buying an additional 31 shares during the period. Finally, Summit X LLC lifted its position in Caterpillar by 3.2% during the first quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock valued at $338,000 after buying an additional 32 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Activity at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the firm'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 in the company, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jason Kaiser sold 2,161 shares of the firm's 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 sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,653 shares of company stock worth $8,943,642. Company insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

CAT has been the subject of several recent analyst reports. Robert W. Baird lifted their price target on Caterpillar from $495.00 to $540.00 and gave the stock an "outperform" rating in a research report on Wednesday. Truist Financial lifted their price target on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Citigroup lifted their price target on Caterpillar from $460.00 to $500.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. DA Davidson lifted their price target on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target for the company in a research report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Caterpillar has an average rating of "Moderate Buy" and an average target price of $460.20.

Caterpillar Stock Down 0.1%

NYSE CAT opened at $466.62 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The company has a market capitalization of $218.60 billion, a P/E ratio of 23.73, a P/E/G ratio of 2.84 and a beta of 1.41. Caterpillar Inc. has a one year low of $267.30 and a one year high of $472.12. The stock has a 50 day moving average price of $425.21 and a 200-day moving average price of $369.34.

Caterpillar (NYSE:CAT - Get Free Report) last posted its 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 firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm's revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.99 earnings per share. As a group, equities analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

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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