LaFleur & Godfrey LLC Raises Stock Holdings in Caterpillar Inc. $CAT

Key Points

• LaFleur & Godfrey LLC increased its holdings in Caterpillar Inc. by 5.1%, owning approximately 53,984 shares valued at about $20.96 million.
• Multiple institutional investors have recently made position changes in Caterpillar, with total institutional ownership now at 70.98%.
• Caterpillar's stock has received favorable research reports, with price target upgrades from analysts like Citigroup, which raised its target from $460 to $500 and reaffirmed a "buy" rating.

LaFleur & Godfrey LLC lifted its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 5.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 53,984 shares of the industrial products company's stock after purchasing an additional 2,631 shares during the period. Caterpillar comprises approximately 2.6% of LaFleur & Godfrey LLC's portfolio, making the stock its 9th biggest holding. LaFleur & Godfrey LLC's holdings in Caterpillar were worth $20,957,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Friday Financial bought a new stake in Caterpillar in the second quarter valued at $506,000. Caitlin John LLC purchased a new position in Caterpillar in the 2nd quarter worth about $339,000. McGlone Suttner Wealth Management Inc. raised its position in Caterpillar by 1.4% in the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 4,023 shares of the industrial products company's stock worth $1,562,000 after buying an additional 55 shares during the last quarter. Farmers & Merchants Investments Inc. increased its position in shares of Caterpillar by 0.5% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 26,587 shares of the industrial products company's stock valued at $10,321,000 after purchasing an additional 124 shares during the last quarter. Finally, Narus Financial Partners LLC purchased a new stake in shares of Caterpillar during the 2nd quarter valued at about $293,000. Institutional investors own 70.98% of the company's stock.

Wall Street Analyst Weigh In

CAT has been the subject of a number of recent research reports. Citigroup boosted their price objective on Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Evercore ISI upgraded Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price target on the stock in a report on Tuesday, August 19th. Barclays upped their price objective on Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Robert W. Baird upped their price objective on Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $460.20.

Caterpillar Price Performance

NYSE:CAT opened at $466.62 on Monday. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $472.12. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. 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. The stock's fifty day moving average is $425.21 and its two-hundred day moving average is $369.54.

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 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 firm had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. During the same quarter in the prior year, the firm posted $5.99 EPS. Caterpillar's quarterly revenue was down .7% compared to the same quarter last year. Equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the company's 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 of the company's stock, valued at $2,835,970. This represents a 25.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction that occurred 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 sale, the chairman directly owned 482,505 shares of the company's stock, valued at $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,653 shares of company stock valued at $8,943,642 in the last three months. 0.33% of the stock is currently owned by company insiders.

Caterpillar Company 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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