Lincoln Capital LLC Invests $905,000 in Caterpillar Inc. $CAT

Key Points

• Lincoln Capital LLC purchased 2,334 shares of Caterpillar Inc. valued at approximately $905,000 during the second quarter, reflecting continued institutional interest in the stock.
• Several analysts recently upgraded Caterpillar's rating, with price targets reaching up to $507.00, indicating strong market confidence in the company's future performance.
• Despite a recent 0.1% decline in stock price, Caterpillar maintains a market capitalization of $218.60 billion, driven by a solid earnings backdrop and a current ratio of 1.34.

Lincoln Capital LLC bought a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,334 shares of the industrial products company's stock, valued at approximately $905,000.

Other institutional investors also recently modified their holdings of the company. Family Legacy Financial Solutions LLC bought a new position in shares of Caterpillar in the second quarter valued at approximately $32,000. Compass Financial Services Inc grew its holdings in shares of Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 31 shares in the last quarter. Mattson Financial Services LLC bought a new position in shares of Caterpillar in the fourth quarter valued at approximately $39,000. Curat Global LLC bought a new position in shares of Caterpillar in the first quarter valued at approximately $33,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Caterpillar in the first quarter valued at approximately $33,000. 70.98% of the stock is owned by institutional investors.

Caterpillar Trading Down 0.3%

Shares of NYSE:CAT traded down $1.43 on Tuesday, reaching $470.67. 2,540,548 shares of the company traded hands, compared to its average volume of 2,759,325. The business's 50-day simple moving average is $426.53 and its 200 day simple moving average is $370.38. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $485.34. The stock has a market capitalization of $220.50 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 2.84 and a beta of 1.41. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT - Get Free Report) last announced 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 company had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same period last year, the business posted $5.99 earnings per share. The firm's quarterly revenue was down .7% compared to the same quarter last year. As a group, equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. 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 note on Wednesday, September 17th. Citigroup reiterated a "buy" rating on shares of Caterpillar in a research note on Tuesday. 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 note on Wednesday, August 6th. Finally, Bank of America increased their target price on Caterpillar from $495.00 to $517.00 and gave the stock a "buy" rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $464.33.

Insider Activity

In other news, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was 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 of the company's stock, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman directly owned 482,505 shares in the company, valued at $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,653 shares of company stock valued at $8,943,642. 0.33% of the stock is currently owned by 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.