RDA Financial Network lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 82.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 555 shares of the industrial products company's stock after selling 2,690 shares during the quarter. RDA Financial Network's holdings in Caterpillar were worth $215,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Compass Financial Services Inc raised its position in shares of Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock valued at $31,000 after buying an additional 31 shares during the last quarter. Investment Management Corp VA ADV purchased a new position in Caterpillar during the fourth quarter worth $33,000. Curat Global LLC bought a new stake in shares of Caterpillar during the first quarter worth $33,000. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar during the first quarter worth $33,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of Caterpillar in the fourth quarter valued at about $36,000. Institutional investors own 70.98% of the company's stock.
Insiders Place Their Bets
In other news, 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 value of $902,649.70. Following the transaction, the insider owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan C. Schwab sold 2,324 shares of the firm's stock in a transaction 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 completion of the sale, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,653 shares of company stock valued at $8,943,642 over the last 90 days. 0.33% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on CAT shares. Bank of America boosted their target price on shares of Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Robert W. Baird boosted their target price on shares of Caterpillar from $495.00 to $540.00 and gave the stock an "outperform" rating in a report on Wednesday. Oppenheimer dropped their price target on Caterpillar from $493.00 to $480.00 and set an "outperform" rating on the stock in a research note on Friday, August 29th. Truist Financial boosted their price target on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Melius Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price on the stock in a research report on Wednesday, July 9th. 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. According to MarketBeat.com, Caterpillar has a consensus rating of "Moderate Buy" and an average target price of $460.20.
Get Our Latest Report on CAT
Caterpillar Stock Down 0.9%
Shares of CAT stock traded down $4.06 on Friday, reaching $462.91. 1,703,703 shares of the company's stock traded hands, compared to its average volume of 2,739,151. The business's 50 day moving average price is $423.99 and its two-hundred day moving average price is $368.16. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $472.12. The company has a market capitalization of $216.86 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 2.74 and a beta of 1.41.
Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data 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 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 quarter in the prior year, the company posted $5.99 earnings per share. The company's revenue for the quarter was down .7% on a year-over-year basis. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.
Caterpillar Profile
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Free Report)
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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