Precision Wealth Strategies LLC Has $1.34 Million Stock Position in Caterpillar Inc. $CAT

Key Points

• Precision Wealth Strategies LLC significantly increased its stake in Caterpillar Inc. by 174.7% during Q2, totaling a value of approximately $1.34 million.
• Numerous institutional investors have adjusted their holdings, with institutional ownership now at 70.98% of Caterpillar's stock.
• Analysts have raised target prices for Caterpillar, with Bank of America lifting it to $517 and others providing a consensus target of $466.53.

Precision Wealth Strategies LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 174.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,450 shares of the industrial products company's stock after buying an additional 2,194 shares during the quarter. Precision Wealth Strategies LLC's holdings in Caterpillar were worth $1,339,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Family Legacy Financial Solutions LLC acquired a new stake in Caterpillar during the 2nd quarter valued at $32,000. Compass Financial Services Inc boosted its position in shares of Caterpillar by 49.2% in 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. Curat Global LLC bought a new position in shares of Caterpillar in the 1st quarter worth $33,000. Redmont Wealth Advisors LLC bought a new position in shares of Caterpillar in the 1st quarter worth $33,000. Finally, Maseco LLP bought a new position in Caterpillar during the second quarter worth about $45,000. Institutional investors own 70.98% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Bank of America lifted their target price on Caterpillar from $495.00 to $517.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Oppenheimer lifted their target price on Caterpillar from $480.00 to $513.00 and gave the company an "outperform" rating in a research report on Monday. Barclays boosted their price target on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Truist Financial boosted their price target on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Robert W. Baird upped their target price on Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Caterpillar has an average rating of "Moderate Buy" and a consensus target price of $466.53.

Insider Transactions at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the company's stock in a transaction 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 transaction, the director owned 6,917 shares of the company's stock, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,819 shares of company stock worth $16,885,492. Corporate insiders own 0.33% of the company's stock.

Caterpillar Stock Up 0.8%

NYSE CAT opened at $480.99 on Thursday. The business has a fifty day moving average price of $434.48 and a two-hundred day moving average price of $376.35. 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 fifty-two week low of $267.30 and a fifty-two week high of $485.34. The stock has a market capitalization of $225.33 billion, a PE ratio of 24.47, a PEG ratio of 2.90 and a beta of 1.46.

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

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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