Caterpillar Inc. $CAT Stock Position Raised by Naples Global Advisors LLC

Naples Global Advisors LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 10,290 shares of the industrial products company’s stock after acquiring an additional 33 shares during the quarter. Naples Global Advisors LLC’s holdings in Caterpillar were worth $3,995,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings 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 purchasing an additional 264,054 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Caterpillar by 0.5% in 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 in the last quarter. Goldman Sachs Group Inc. lifted its holdings 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 purchasing an additional 268,300 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Caterpillar by 5.0% in the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock valued at $1,036,211,000 after purchasing an additional 150,533 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Caterpillar by 0.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,416,464 shares of the industrial products company’s stock valued at $467,150,000 after purchasing an additional 5,559 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a report on Monday, July 14th. Barclays increased their price objective on Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. DA Davidson increased their price objective on Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Truist Financial increased their price objective on Caterpillar from $414.00 to $507.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Two research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $466.53.

Insider Activity

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $462.65, for a total value of $7,941,849.90. Following the sale, the chairman directly owned 465,339 shares of the company’s stock, valued at approximately $215,289,088.35. This trade represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,819 shares of company stock valued at $16,885,492. 0.33% of the stock is owned by insiders.

Caterpillar Price Performance

NYSE CAT opened at $480.99 on Thursday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $485.34. The stock’s 50-day moving average is $434.48 and its two-hundred day moving average is $376.35. 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 $225.33 billion, a P/E ratio of 24.47, a price-to-earnings-growth ratio of 2.90 and a beta of 1.46.

Caterpillar (NYSE:CAT) last posted its 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 net margin of 14.95% and a return on equity of 48.95%. 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 earnings per share. Caterpillar’s quarterly revenue was down .7% on a year-over-year basis. On average, analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

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.