TruWealth Advisors LLC raised its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 12.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,214 shares of the industrial products company's stock after buying an additional 3,079 shares during the quarter. TruWealth Advisors LLC's holdings in Caterpillar were worth $10,565,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in CAT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake 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 acquiring an additional 264,054 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Caterpillar by 8.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,940,391 shares of the industrial products company's stock worth $1,429,416,000 after acquiring an additional 312,878 shares during the period. GAMMA Investing LLC boosted its stake in shares of 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 worth $1,230,239,000 after acquiring an additional 3,721,693 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in 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 purchasing an additional 15,347 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in 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 acquiring an additional 268,300 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on CAT shares. Bank of America lifted their price target on shares of Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Oppenheimer cut their price objective on shares of Caterpillar from $493.00 to $480.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Jefferies Financial Group reiterated a "buy" rating and set a $500.00 price objective on shares of Caterpillar in a research note on Friday, August 29th. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Two equities 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 stock. Based on data from MarketBeat.com, Caterpillar currently has an average rating of "Moderate Buy" and an average target price of $460.20.
Check Out Our Latest Research Report on Caterpillar
Insider Activity at Caterpillar
In other news, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the sale, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. 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 over the last quarter. Company insiders own 0.33% of the company's stock.
Caterpillar Stock Performance
CAT stock traded down $1.94 during midday trading on Friday, reaching $465.02. The company had a trading volume of 1,830,981 shares, compared to its average volume of 2,739,672. 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 stock has a 50 day moving average price of $423.99 and a 200 day moving average price of $368.16. The firm has a market capitalization of $217.85 billion, a PE ratio of 23.64, a P/E/G ratio of 2.74 and a beta of 1.41. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $472.12.
Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 net margin of 14.95% and a return on equity of 48.95%. The firm's revenue was down .7% on a year-over-year basis. During the same quarter last year, the company earned $5.99 earnings per share. Analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.
Caterpillar Company 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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