Rise Advisors LLC Sells 53 Shares of Caterpillar Inc. $CAT

Rise Advisors LLC lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 4.0% during the second quarter, Holdings Channel reports. The firm owned 1,281 shares of the industrial products company’s stock after selling 53 shares during the period. Rise Advisors LLC’s holdings in Caterpillar were worth $497,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAT. Pacific Point Advisors LLC acquired a new position in Caterpillar in the 4th quarter valued at $579,000. Brighton Jones LLC grew its stake in Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after buying an additional 2,519 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new position in Caterpillar in the 4th quarter valued at $410,000. Toronto Dominion Bank grew its stake in Caterpillar by 24.1% in the 4th quarter. Toronto Dominion Bank now owns 205,366 shares of the industrial products company’s stock valued at $74,498,000 after buying an additional 39,893 shares during the last quarter. Finally, Tema Etfs LLC acquired a new position in Caterpillar in the 4th quarter valued at $4,835,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the business’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 transaction, the insider directly owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction dated 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 transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at approximately $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 sold 21,653 shares of company stock valued at $8,943,642 in the last ninety days. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CAT. Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a research note on Wednesday, July 9th. Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a research report on Wednesday, July 9th. Barclays raised their price target on shares of Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Jefferies Financial Group restated a “buy” rating and issued a $500.00 price target on shares of Caterpillar in a research report on Friday, August 29th. 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 report 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $457.20.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $431.10 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The firm’s 50-day simple moving average is $420.04 and its 200-day simple moving average is $365.49. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15. The firm has a market cap of $201.96 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 2.62 and a beta of 1.41.

Caterpillar (NYSE:CAT) last issued 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 business 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 posted $5.99 earnings per share. Caterpillar’s revenue was down .7% on a year-over-year basis. As a group, research analysts expect that Caterpillar Inc. will post 19.86 EPS 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.