BayBridge Capital Group LLC Acquires 125 Shares of Caterpillar Inc. $CAT

BayBridge Capital Group LLC raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,598 shares of the industrial products company’s stock after purchasing an additional 125 shares during the quarter. Caterpillar accounts for approximately 1.1% of BayBridge Capital Group LLC’s portfolio, making the stock its 23rd largest position. BayBridge Capital Group LLC’s holdings in Caterpillar were worth $1,785,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Compass Financial Services Inc raised its holdings in shares of Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in Caterpillar during the 2nd quarter valued at approximately $32,000. Curat Global LLC acquired a new stake in shares of Caterpillar during the first quarter worth $33,000. Redmont Wealth Advisors LLC bought a new stake in Caterpillar in the first quarter valued at about $33,000. Finally, Fiduciary Wealth Partners LLC bought a new position in shares of Caterpillar in the first quarter valued at $45,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $466.06 on Friday. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $485.34. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $218.34 billion, a P/E ratio of 23.71, a PEG ratio of 2.83 and a beta of 1.41. The firm has a fifty day simple moving average of $430.98 and a two-hundred day simple moving average of $373.71.

Caterpillar (NYSE:CAT) last announced 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 return on equity of 48.95% and a net margin of 14.95%.The company had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same period last year, the business earned $5.99 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. On average, analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CAT has been the subject of several research analyst reports. Robert W. Baird boosted their price target on shares of Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective on the stock in a report on Wednesday, July 9th. Barclays upped their price objective on shares of Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective for the company in a research note on Tuesday, August 19th. Finally, Jefferies Financial Group restated a “buy” rating and set a $500.00 price objective on shares of Caterpillar in a research note on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $464.33.

Insiders Place Their Bets

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,819 shares of company stock valued at $16,885,492. 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.