MKT Advisors LLC Buys New Stake in Caterpillar Inc. $CAT

Key Points

• MKT Advisors LLC has acquired a new stake in Caterpillar Inc., purchasing 690 shares valued at approximately $270,000 in the second quarter.
• Caterpillar's stock recently hit a twelve-month low of $267.30 and a high of $485.34, with shares currently trading at around $463.76.
• Despite missing analysts' expectations for quarterly earnings, analysts have issued upgraded ratings on Caterpillar, with target prices ranging from $425.00 to $540.00.

MKT Advisors LLC purchased a new position 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 purchased 690 shares of the industrial products company's stock, valued at approximately $270,000.

A number of other large investors have also made changes to their positions in CAT. Essex Financial Services Inc. increased its position in Caterpillar by 6.3% during the 2nd quarter. Essex Financial Services Inc. now owns 13,218 shares of the industrial products company's stock worth $5,131,000 after purchasing an additional 783 shares in the last quarter. Dakota Wealth Management grew its holdings in shares of Caterpillar by 111.1% during the second quarter. Dakota Wealth Management now owns 75,704 shares of the industrial products company's stock worth $29,389,000 after buying an additional 39,839 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in shares of Caterpillar by 5.8% during the second quarter. Perigon Wealth Management LLC now owns 16,635 shares of the industrial products company's stock valued at $6,458,000 after buying an additional 916 shares during the period. TigerOak Management L.L.C. purchased a new stake in Caterpillar in the 2nd quarter worth approximately $235,000. Finally, Plancorp LLC raised its holdings in Caterpillar by 7.2% in the 2nd quarter. Plancorp LLC now owns 2,788 shares of the industrial products company's stock valued at $1,082,000 after acquiring an additional 188 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Stock Down 1.3%

Shares of Caterpillar stock opened at $463.76 on Friday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $485.34. The stock has a market cap of $217.26 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 2.86 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. The company has a fifty day moving average price of $429.93 and a 200 day moving average price of $372.59.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 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 company had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. During the same period last year, the business earned $5.99 earnings per share. The company's revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a $500.00 price objective on shares of Caterpillar in a research report on Friday, August 29th. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a report on Wednesday, July 9th. Barclays boosted their target price on shares of Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Truist Financial increased their price target on shares of Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Robert W. Baird lifted their price target on shares of Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a report on Wednesday, September 17th. Two research 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 company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $464.33.

Insiders Place Their Bets

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction that occurred on 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 completion of the sale, the chairman owned 482,505 shares of the company's stock, valued at $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction on 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 in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,819 shares of company stock worth $16,885,492 in the last 90 days. 0.33% of the stock is owned by company 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.

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