Capital Insight Partners LLC Reduces Stock Holdings in Caterpillar Inc. $CAT

Capital Insight Partners LLC cut its holdings in Caterpillar Inc. (NYSE:CAT) by 2.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,868 shares of the industrial products company’s stock after selling 50 shares during the quarter. Capital Insight Partners LLC’s holdings in Caterpillar were worth $725,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Compass Financial Services Inc increased its stake in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar in the 2nd quarter valued at $32,000. Curat Global LLC purchased a new position in Caterpillar in the 1st quarter worth $33,000. Redmont Wealth Advisors LLC acquired a new stake in Caterpillar during the 1st quarter worth about $33,000. Finally, Fiduciary Wealth Partners LLC acquired a new position in shares of Caterpillar in the first quarter valued at about $45,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup reiterated a “buy” rating on shares of Caterpillar in a report on Tuesday, September 23rd. Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a research report on Wednesday, July 9th. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Robert W. Baird lifted their price objective on Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Finally, Truist Financial raised their target price on Caterpillar from $414.00 to $507.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $464.33.

Insiders Place Their Bets

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the completion of the transaction, the chairman owned 465,339 shares of the company’s stock, valued at $215,289,088.35. This represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction that occurred on Monday, August 11th. The stock was 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 $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. In the last three months, insiders sold 38,819 shares of company stock worth $16,885,492. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 0.5%

Shares of CAT stock opened at $466.06 on Monday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $485.34. The company has a market cap of $218.34 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 2.83 and a beta of 1.41. 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 stock has a 50 day simple moving average of $430.98 and a 200-day simple moving average of $373.99.

Caterpillar (NYSE:CAT) last issued 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 company had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. During the same period in the previous year, the firm posted $5.99 EPS. Caterpillar’s revenue was down .7% compared to the same quarter last year. On average, equities research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

About Caterpillar

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.