SCS Capital Management LLC Makes New $1.80 Million Investment in Caterpillar Inc. $CAT

Key Points

• SCS Capital Management LLC has made a new investment of approximately $1.80 million in Caterpillar Inc. by purchasing 5,445 shares, according to a recent SEC filing.
• Caterpillar reported earnings per share (EPS) of $4.72 for the latest quarter, falling short of the consensus estimate of $4.88, while revenue was above expectations at $16.57 billion.
• Insider sales have increased, with insiders selling a total of 21,653 shares valued at nearly $9 million in the last three months, indicating a decrease in insider ownership.

SCS Capital Management LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,445 shares of the industrial products company's stock, valued at approximately $1,796,000.

Other large investors have also recently made changes to their positions in the company. Victrix Investment Advisors purchased a new position in Caterpillar in the 4th quarter worth approximately $2,090,000. Charles Schwab Investment Management Inc. raised its stake in Caterpillar by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock valued at $1,089,798,000 after buying an additional 15,347 shares during the last quarter. Pacific Point Advisors LLC purchased a new stake in Caterpillar during the 4th quarter valued at $579,000. Wealth Enhancement Advisory Services LLC raised its stake in Caterpillar by 18.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock valued at $63,202,000 after buying an additional 30,070 shares during the last quarter. Finally, Crestwood Advisors Group LLC raised its stake in Caterpillar by 3.4% during the 1st quarter. Crestwood Advisors Group LLC now owns 22,689 shares of the industrial products company's stock valued at $7,483,000 after buying an additional 743 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

Caterpillar stock 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 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 fifty-two week low of $267.30 and a fifty-two week high of $441.15. The company has a market capitalization of $195.81 billion, a PE ratio of 21.26, a P/E/G ratio of 2.57 and a beta of 1.41.

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

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider directly owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. The trade was 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 the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar 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 sale, the director 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 21,653 shares of company stock valued at $8,943,642. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Baird R W raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Oppenheimer lowered their price target on shares of Caterpillar from $493.00 to $480.00 and set an "outperform" rating for the company in a report on Friday, August 29th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Truist Financial raised their price objective on shares of Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Bank of America raised their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of "Moderate Buy" and an average target price of $457.20.

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.

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.