Caterpillar Inc. $CAT is Bridge Creek Capital Management LLC’s 8th Largest Position

Bridge Creek Capital Management LLC raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,743 shares of the industrial products company’s stock after buying an additional 307 shares during the period. Caterpillar accounts for approximately 2.0% of Bridge Creek Capital Management LLC’s portfolio, making the stock its 8th biggest holding. Bridge Creek Capital Management LLC’s holdings in Caterpillar were worth $6,888,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CAT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in 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 purchasing an additional 264,054 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Caterpillar by 43,447.3% during the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company’s stock valued at $1,230,239,000 after purchasing an additional 3,721,693 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Caterpillar by 0.5% during 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. boosted its holdings in 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 purchasing an additional 268,300 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Caterpillar by 5.0% during 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. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

Shares of NYSE CAT opened at $466.62 on Friday. The firm has a market cap of $218.60 billion, a PE ratio of 23.73, a PEG ratio of 2.84 and a beta of 1.41. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $472.12. The company has a fifty day moving average price of $425.21 and a 200 day moving average price of $369.13.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the prior year, the company earned $5.99 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. Research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CAT. Bank of America boosted their target price on Caterpillar from $460.00 to $495.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Truist Financial boosted their price objective 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. Oppenheimer dropped their price objective on shares of Caterpillar from $493.00 to $480.00 and set an “outperform” rating for the company in a research report on Friday, August 29th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $500.00 price objective on shares of Caterpillar in a research report on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Caterpillar presently has a consensus rating of “Moderate Buy” and an average price target of $460.20.

Insider Activity

In other news, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider directly owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the firm’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 directly owned 6,917 shares in the company, valued at $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,653 shares of company stock valued at $8,943,642. 0.33% of the stock is owned by company insiders.

Caterpillar 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.