Plato Investment Management Ltd Sells 1,665 Shares of Caterpillar Inc. $CAT

Key Points

• Plato Investment Management Ltd has reduced its holdings in Caterpillar Inc. by 11.4%, selling 1,665 shares to now own 12,929 shares valued at approximately $4.31 million.
• Analysts have set varying price targets for Caterpillar, with Truist Financial's target reaching as high as $507.00, while Oppenheimer lowered it to $480.00, reflecting mixed sentiment on the stock's performance.
• Caterpillar's recent quarterly earnings report showed an EPS of $4.72, which missed estimates, alongside a decrease in revenue by 0.7% year-over-year.

Plato Investment Management Ltd decreased its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 11.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,929 shares of the industrial products company's stock after selling 1,665 shares during the quarter. Plato Investment Management Ltd's holdings in Caterpillar were worth $4,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CAT. SageView Advisory Group LLC lifted its holdings in shares of Caterpillar by 8.1% in the 1st quarter. SageView Advisory Group LLC now owns 1,379 shares of the industrial products company's stock worth $455,000 after acquiring an additional 103 shares during the last quarter. Advisory Alpha LLC raised its position in Caterpillar by 1.2% in the 1st quarter. Advisory Alpha LLC now owns 5,052 shares of the industrial products company's stock worth $1,666,000 after purchasing an additional 62 shares during the period. Alaethes Wealth LLC lifted its stake in Caterpillar by 2.5% in the first quarter. Alaethes Wealth LLC now owns 5,638 shares of the industrial products company's stock worth $1,859,000 after purchasing an additional 136 shares during the last quarter. SCS Capital Management LLC purchased a new stake in Caterpillar during the first quarter valued at about $1,796,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Caterpillar by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company's stock valued at $1,386,626,000 after buying an additional 264,054 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Truist Financial boosted their target price on Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Oppenheimer lowered their price objective on Caterpillar from $493.00 to $480.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and raised their target price for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. Finally, Citigroup raised their price target on shares of Caterpillar from $460.00 to $500.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Two equities research 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. According to MarketBeat, Caterpillar currently has a consensus rating of "Moderate Buy" and a consensus price target of $457.20.

Caterpillar Trading Down 1.1%

NYSE:CAT opened at $417.96 on Wednesday. The company has a 50-day moving average price of $418.27 and a 200-day moving average price of $363.50. The stock has a market cap of $195.81 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 2.57 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 Inc. has a 12 month low of $267.30 and a 12 month high of $441.15.

Caterpillar (NYSE:CAT - Get Free Report) last issued 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). The company had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business's quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the business earned $5.99 earnings per share. Equities analysts predict 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 Caterpillar stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the firm's stock in a transaction 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 transaction, the chairman directly owned 482,505 shares of the company's stock, valued at $199,211,839.35. This represents a 3.44% decrease in their position. 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. 0.33% of the stock is owned by corporate insiders.

About Caterpillar

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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