Stock Yards Bank & Trust Co. Trims Stock Position in Caterpillar Inc. $CAT

Stock Yards Bank & Trust Co. cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 18.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,680 shares of the industrial products company’s stock after selling 4,141 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Caterpillar were worth $7,252,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CAT. Pacer Advisors Inc. raised its stake in Caterpillar by 2,723.1% during the first quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock worth $466,430,000 after purchasing an additional 1,364,183 shares during the period. Nuveen LLC purchased a new position in Caterpillar during the first quarter worth about $391,788,000. Assenagon Asset Management S.A. increased its position in shares of Caterpillar by 546.6% during the second quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock valued at $327,297,000 after acquiring an additional 712,711 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Caterpillar by 9.1% during 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 acquiring an additional 268,300 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Caterpillar by 6.7% during 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 during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. DA Davidson lifted their price target on shares of Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Caterpillar in a research report on Saturday, September 27th. Finally, Bank of America lifted their price objective on shares of Caterpillar from $495.00 to $517.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $466.53.

Caterpillar Trading Up 1.6%

Shares of CAT stock opened at $498.48 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $504.48. The stock has a market capitalization of $233.53 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 2.98 and a beta of 1.46. The company has a 50 day moving average price of $436.99 and a 200 day moving average price of $378.48.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results 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). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter last year, the firm earned $5.99 EPS. The company’s revenue was down .7% on a year-over-year basis. Equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the transaction, the director owned 6,917 shares of the company’s stock, valued at $2,835,970. This trade represents a 25.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,819 shares of company stock worth $16,885,492 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

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.