UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Purchases 264,054 Shares of Caterpillar Inc. $CAT

Key Points

• UBS AM increased its stake in Caterpillar Inc. by 6.7%, acquiring an additional 264,054 shares in the first quarter, bringing their total ownership to approximately 4.2 million shares.
• Several other institutional investors, including GAMMA Investing LLC and Pacer Advisors Inc., also expanded their holdings significantly, with GAMMA increasing its stake by a remarkable 43,447.3%.
• Caterpillar's recent quarterly earnings reported an EPS of $4.72, falling short of analysts' expectations, while the company announced an increased quarterly dividend of $1.51.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 6.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,204,445 shares of the industrial products company's stock after purchasing an additional 264,054 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.89% of Caterpillar worth $1,386,626,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Investment Management Corp VA ADV bought a new stake in Caterpillar during the fourth quarter valued at $33,000. Mpwm Advisory Solutions LLC bought a new position in shares of Caterpillar during the 4th quarter worth about $36,000. Mattson Financial Services LLC acquired a new stake in shares of Caterpillar in the 4th quarter worth about $39,000. Curat Global LLC acquired a new stake in shares of Caterpillar in the 1st quarter worth about $33,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Caterpillar in the 1st quarter worth about $33,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

CAT traded up $8.71 on Thursday, hitting $431.62. The company's stock had a trading volume of 2,737,694 shares, compared to its average volume of 2,446,142. The company's 50 day simple moving average is $419.41 and its 200-day simple moving average is $364.55. The firm has a market cap of $202.21 billion, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 2.57 and a beta of 1.41. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $441.15. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT - Get Free Report) last released 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 business had revenue of $16.57 billion during 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 firm's quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the business posted $5.99 earnings per share. Analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the firm's 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 completion of the transaction, the insider directly owned 8,632 shares of the company's stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 2,324 shares of the firm's stock in a transaction 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 completion of the transaction, the director directly owned 6,917 shares of the company's stock, valued at approximately $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. Insiders sold a total of 21,653 shares of company stock valued at $8,943,642 in the last three months. Company insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Bank of America increased their price objective 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. UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and raised their price target for the stock from $272.00 to $357.00 in a research note on Friday, May 16th. DA Davidson raised their price target on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Melius Research upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target for the company in a research note on Wednesday, July 9th. Finally, Truist Financial raised their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Caterpillar has an average rating of "Moderate Buy" and a consensus price target 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.