Wesbanco Bank Inc. Grows Position in Caterpillar Inc. $CAT

Key Points

• Wesbanco Bank Inc. increased its stake in Caterpillar Inc. by 6.5% in Q2, bringing its total holdings to 22,877 shares valued at approximately $8.88 million.
• Caterpillar reported earnings per share of $4.72 for the recent quarter, missing estimates by $0.16, with revenue slightly exceeding expectations at $16.57 billion.
• Institutional investors own nearly 71% of Caterpillar's stock, indicating significant confidence in the company's market position, supported by multiple positive analyst ratings and price target upgrades.

Wesbanco Bank Inc. increased its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 6.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,877 shares of the industrial products company's stock after purchasing an additional 1,399 shares during the quarter. Wesbanco Bank Inc.'s holdings in Caterpillar were worth $8,881,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Compass Financial Services Inc lifted its stake in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 31 shares during the period. Investment Management Corp VA ADV purchased a new position in shares of Caterpillar in the 4th quarter valued at approximately $33,000. Curat Global LLC purchased a new position in shares of Caterpillar in the 1st quarter valued at approximately $33,000. Redmont Wealth Advisors LLC purchased a new position in shares of Caterpillar in the 1st quarter valued at approximately $33,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Caterpillar in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Stock Down 0.1%

CAT stock opened at $431.10 on Friday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $441.15. The business has a fifty day moving average price of $420.04 and a 200-day moving average price of $365.32. 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 stock has a market capitalization of $201.96 billion, a P/E ratio of 21.93, a P/E/G ratio of 2.62 and a beta of 1.41.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. During the same quarter in the prior year, the firm earned $5.99 EPS. The firm's revenue for the quarter was down .7% compared to the same quarter last year. Equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the business'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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the sale, the insider directly owned 8,632 shares of the company's stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,653 shares of company stock worth $8,943,642 over the last quarter. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

CAT has been the subject of a number of recent research reports. DA Davidson lifted their price objective on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective for the company in a research note on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price objective on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Citigroup lifted their price objective on Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Barclays lifted their price objective on Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Caterpillar presently has a consensus rating of "Moderate Buy" and an average target price 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.

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