Narus Financial Partners LLC Makes New Investment in Caterpillar Inc. $CAT

Key Points

• Narus Financial Partners LLC has acquired a new stake in Caterpillar Inc., purchasing 756 shares valued at approximately $293,000 during the second quarter.
• Analyst upgrades for Caterpillar include a boost from Melius Research from a "hold" to a "strong-buy" rating, with a target price set at $500.00.
• Insider transactions reported include Director Susan C. Schwab and Chairman Donald J. Umpleby III selling significant shares, indicating a noted decrease in their positions.

Narus Financial Partners LLC acquired a new position in Caterpillar Inc. (NYSE:CAT - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 756 shares of the industrial products company's stock, valued at approximately $293,000.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Caterpillar by 43,447.3% during the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock valued at $1,230,239,000 after acquiring an additional 3,721,693 shares during the period. Pacer Advisors Inc. raised its position in shares of Caterpillar by 2,723.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock valued at $466,430,000 after buying an additional 1,364,183 shares in the last quarter. Nuveen LLC bought a new position in Caterpillar during the 1st quarter valued at about $391,788,000. Assenagon Asset Management S.A. grew its holdings in Caterpillar by 546.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company's stock valued at $327,297,000 after purchasing an additional 712,711 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Caterpillar in the 4th quarter worth about $108,958,000. Institutional investors own 70.98% of the company's stock.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of research analyst reports. Bank of America upped their target price on shares of Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Robert W. Baird increased their price objective on shares of Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Truist Financial increased their price objective on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Evercore ISI raised shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price for the company in a research report on Tuesday, August 19th. Finally, Citigroup raised their price target on shares of Caterpillar from $500.00 to $540.00 in a report on Monday. Two 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $462.87.

Caterpillar Price Performance

Shares of NYSE CAT traded up $5.43 during trading on Monday, hitting $471.97. The company had a trading volume of 3,179,376 shares, compared to its average volume of 2,433,813. The firm has a market capitalization of $221.11 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 2.84 and a beta of 1.41. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $473.24. The stock has a fifty day simple moving average of $426.53 and a two-hundred day simple moving average of $370.38. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business's revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.99 earnings per share. On average, research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insiders Place Their Bets

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the transaction, the director directly owned 6,917 shares of the company's stock, valued at $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the company's stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,653 shares of company stock valued at $8,943,642 over the last ninety days. Company insiders own 0.33% of the company's stock.

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.