ST Germain D J Co. Inc. Purchases 983 Shares of Caterpillar Inc. $CAT

Key Points

• ST Germain D J Co. Inc. increased its stake in Caterpillar Inc. by 12.7%, owning a total of 8,714 shares, valued at approximately $3.38 million as of the latest filing.
• Several large investors, including UBS and Goldman Sachs, have significantly increased their holdings in Caterpillar, leading to hedge funds owning 70.98% of the company's stock.
• Analyst ratings for Caterpillar have been generally positive, with target prices raised, including an increase from $475 to $520 by JPMorgan Chase & Co., reflecting a strong outlook for the stock.

ST Germain D J Co. Inc. raised its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 12.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,714 shares of the industrial products company's stock after purchasing an additional 983 shares during the quarter. ST Germain D J Co. Inc.'s holdings in Caterpillar were worth $3,383,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Caterpillar by 6.7% in 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 purchasing an additional 264,054 shares in the last quarter. GAMMA Investing LLC grew its holdings in Caterpillar by 43,447.3% during the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock valued at $1,230,239,000 after buying an additional 3,721,693 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Caterpillar by 0.5% during the first 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 period. Goldman Sachs Group Inc. lifted its holdings in shares of Caterpillar by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company's stock worth $1,064,951,000 after buying an additional 268,300 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Caterpillar by 5.0% in the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company's stock valued at $1,036,211,000 after acquiring an additional 150,533 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on CAT. JPMorgan Chase & Co. increased their target price on shares of Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" 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 on the stock in a research report on Friday, August 29th. Robert W. Baird boosted their target price on Caterpillar from $495.00 to $540.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 17th. Truist Financial raised their price target on Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $464.33.

Caterpillar Trading Down 1.3%

Shares of CAT stock opened at $463.76 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The business has a 50-day moving average of $429.93 and a 200 day moving average of $372.59. The stock has a market capitalization of $217.26 billion, a PE ratio of 23.59, a P/E/G ratio of 2.86 and a beta of 1.41. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $485.34.

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 analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $16.14 billion. During the same period last year, the company posted $5.99 EPS. The business's revenue for the quarter was down .7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Transactions at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction that occurred 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 in the company, valued at $3,605,586.40. This trade represents a 20.02% 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. Company insiders own 0.33% of the company's stock.

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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