Caterpillar Inc. $CAT Holdings Lifted by Sovran Advisors LLC

Sovran Advisors LLC increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 22.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,462 shares of the industrial products company’s stock after buying an additional 448 shares during the quarter. Sovran Advisors LLC’s holdings in Caterpillar were worth $971,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CAT. Compass Financial Services Inc grew its stake in Caterpillar by 49.2% in the first 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. Investment Management Corp VA ADV purchased a new position in Caterpillar in the fourth quarter valued at about $33,000. Curat Global LLC purchased a new position in Caterpillar in the first quarter valued at about $33,000. Redmont Wealth Advisors LLC purchased a new position in Caterpillar in the first quarter valued at about $33,000. Finally, Mattson Financial Services LLC purchased a new position in Caterpillar in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the business’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 transaction, the director directly owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman owned 482,505 shares in the company, valued at $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 have sold 21,653 shares of company stock worth $8,943,642 over the last three months. Company insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

NYSE CAT opened at $467.63 on Friday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $467.71. 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 stock has a market capitalization of $219.08 billion, a PE ratio of 23.79, a P/E/G ratio of 2.74 and a beta of 1.41. The stock has a 50-day simple moving average of $423.99 and a 200 day simple moving average of $368.16.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data 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 business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same period in the prior year, the firm posted $5.99 EPS. Caterpillar’s revenue for the quarter was down .7% on a year-over-year basis. Research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on CAT shares. DA Davidson boosted their target price on Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Bank of America boosted their price target on Caterpillar from $460.00 to $495.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target for the company in a research report on Wednesday, July 9th. Barclays boosted their price target on Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Truist Financial boosted their price target on 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 issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $460.20.

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.