Triangle Securities Wealth Management Has $2.39 Million Stock Holdings in Caterpillar Inc. $CAT

Key Points

• Triangle Securities Wealth Management reduced its stake in Caterpillar Inc. by 10.5% during the second quarter, holding shares valued at approximately $2.39 million following the sale of 718 shares.
• Analyst ratings for Caterpillar have been predominantly positive, with two Strong Buy and eleven Buy ratings, as well as target price increases by multiple firms leading to a new average target of $460.20.
• Insider trading activity included significant sales, with Chairman Donald J. Umpleby III selling 17,168 shares, resulting in a 3.44% decrease in his position in the company.

Triangle Securities Wealth Management cut its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 10.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,151 shares of the industrial products company's stock after selling 718 shares during the period. Triangle Securities Wealth Management's holdings in Caterpillar were worth $2,388,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in shares of Caterpillar by 43,447.3% in the first 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 during the last quarter. Pacer Advisors Inc. lifted its position in shares of Caterpillar by 2,723.1% in the first quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock valued at $466,430,000 after buying an additional 1,364,183 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Caterpillar in the first quarter valued at approximately $391,788,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Caterpillar in the fourth quarter valued at approximately $108,958,000. Finally, Goldman Sachs Group Inc. lifted its position 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 valued at $1,064,951,000 after buying an additional 268,300 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAT has been the subject of a number of recent analyst reports. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. JPMorgan Chase & Co. increased their target price on Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Bank of America increased their target price on Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Truist Financial increased their target price 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 note on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Caterpillar currently has an average rating of "Moderate Buy" and an average price target of $460.20.

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman owned 482,505 shares in the company, valued at approximately $199,211,839.35. This trade represents a 3.44% 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 worth $8,943,642 in the last 90 days. Company insiders own 0.33% of the company's stock.

Caterpillar Price Performance

Caterpillar stock opened at $467.63 on Friday. The stock's fifty day moving average price is $423.99 and its two-hundred day moving average price is $368.16. Caterpillar Inc. has a one year low of $267.30 and a one year high of $467.71. 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 firm has a market cap of $219.08 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 2.74 and a beta of 1.41.

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 analysts' consensus estimates of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter last year, the business earned $5.99 EPS. Caterpillar's revenue was down .7% on a year-over-year basis. As a group, research analysts expect that Caterpillar Inc. will post 19.86 EPS 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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