Orrstown Financial Services Inc. Has $625,000 Stake in Caterpillar Inc. $CAT

Key Points

• Orrstown Financial Services Inc. reduced its stake in Caterpillar Inc. by 32.8%, owning 1,611 shares worth $625,000 after selling 785 shares in the second quarter.
• Caterpillar's shares recently hit a twelve-month high of $472.12, and the company reported a revenue of $16.57 billion for the last quarter, slightly above analysts' expectations.
• Several major investors, including GAMMA Investing LLC, have significantly increased their positions in Caterpillar, indicating growing interest from institutional investors.

Orrstown Financial Services Inc. decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 32.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,611 shares of the industrial products company's stock after selling 785 shares during the quarter. Orrstown Financial Services Inc.'s holdings in Caterpillar were worth $625,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CAT. Compass Financial Services Inc increased its stake in shares of Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock worth $31,000 after purchasing an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC bought a new stake in shares of Caterpillar during the 2nd quarter worth $32,000. Curat Global LLC bought a new stake in shares of Caterpillar during the 1st quarter worth $33,000. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar during the 1st quarter worth $33,000. Finally, Mattson Financial Services LLC bought a new stake in Caterpillar in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CAT. Truist Financial increased their price target on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. DA Davidson increased their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. 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. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective for the company in a research note on Wednesday, July 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Two equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $464.33.

Insider Activity

In other news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the sale, the chairman 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. Insiders have sold 21,653 shares of company stock worth $8,943,642 over the last ninety days. Insiders own 0.33% of the company's stock.

Caterpillar Stock Down 0.3%

CAT traded down $1.43 during trading on Tuesday, reaching $470.67. The company had a trading volume of 2,540,548 shares, compared to its average volume of 2,759,325. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $485.34. The business's fifty day moving average price is $426.53 and its 200 day moving average price is $370.38. The company has a market cap of $220.50 billion, a P/E ratio of 23.94, a PEG ratio of 2.84 and a beta of 1.41.

Caterpillar (NYSE:CAT - Get Free Report) last announced 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). 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 the consensus estimate of $16.14 billion. During the same period in the previous year, the firm posted $5.99 EPS. The business's quarterly revenue was down .7% compared to the same quarter last year. Equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

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.