Spartan Planning & Wealth Management Purchases New Position in Caterpillar Inc. $CAT

Key Points

• Spartan Planning & Wealth Management has acquired a new position in Caterpillar Inc., purchasing 892 shares valued at approximately $346,000 in the second quarter.
• Despite a reported EPS of $4.72 for the last quarter, which missed estimates, Caterpillar’s revenue of $16.57 billion exceeded expectations, showing a 0.7% year-over-year decrease.
• Recent insider trading activities included Director Susan C. Schwab and Chairman Donald J. Umpleby III selling thousands of shares, indicating significant movements among company executives.

Spartan Planning & Wealth Management purchased a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 892 shares of the industrial products company's stock, valued at approximately $346,000.

A number of other institutional investors have also recently made changes to their positions in CAT. Pacer Advisors Inc. lifted its holdings in shares of Caterpillar by 2,723.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock valued at $466,430,000 after acquiring an additional 1,364,183 shares during the last quarter. Nuveen LLC purchased a new position in shares of Caterpillar during the 1st quarter worth about $391,788,000. Assenagon Asset Management S.A. boosted its stake in shares of Caterpillar by 546.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company's stock worth $327,297,000 after purchasing an additional 712,711 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Caterpillar by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company's stock worth $1,064,951,000 after purchasing an additional 268,300 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Caterpillar by 6.7% during the 1st 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 worth $1,386,626,000 after purchasing an additional 264,054 shares during the period. Institutional investors own 70.98% of the company's stock.

Caterpillar Trading Up 1.3%

NYSE CAT opened at $471.68 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The firm has a market cap of $220.97 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 2.83 and a beta of 1.41. The company has a 50 day moving average price of $432.21 and a 200 day moving average price of $374.91. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $485.34.

Caterpillar (NYSE:CAT - Get Free Report) last posted 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 firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company's revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $5.99 EPS. As a group, sell-side analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were 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 in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the company's 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 transaction, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. The trade was a 3.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on CAT shares. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Robert W. Baird lifted their price target on shares of Caterpillar from $495.00 to $540.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 17th. Melius raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target for the company in a research note on Wednesday, July 9th. Jefferies Financial Group reaffirmed a "buy" rating and set a $500.00 price target on shares of Caterpillar in a research note on Friday, August 29th. Finally, Truist Financial boosted their price objective on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Two 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $466.53.

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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