Crane Advisory LLC Sells 128 Shares of Caterpillar Inc. $CAT

Crane Advisory LLC reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 12.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 886 shares of the industrial products company’s stock after selling 128 shares during the period. Crane Advisory LLC’s holdings in Caterpillar were worth $360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. GSB Wealth Management LLC increased its stake in Caterpillar by 1.2% in the 2nd quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock worth $832,000 after acquiring an additional 26 shares during the last quarter. Verum Partners LLC raised its stake in Caterpillar by 2.5% in the second quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock valued at $411,000 after buying an additional 26 shares during the last quarter. Vanguard Capital Wealth Advisors raised its stake in Caterpillar by 0.8% in the second quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock valued at $1,388,000 after buying an additional 27 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Caterpillar by 2.4% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company’s stock valued at $472,000 after purchasing an additional 29 shares during the period. Finally, McAdam LLC grew its holdings in Caterpillar by 1.6% during the second quarter. McAdam LLC now owns 1,872 shares of the industrial products company’s stock worth $727,000 after acquiring an additional 29 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider directly owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $462.65, for a total value of $7,941,849.90. Following the completion of the transaction, the chairman directly owned 465,339 shares in the company, valued at $215,289,088.35. This trade represents a 3.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,819 shares of company stock worth $16,885,492 over the last quarter. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and set a $500.00 price target on shares of Caterpillar in a research report on Friday, August 29th. Bank of America lifted their price objective on Caterpillar from $495.00 to $517.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Truist Financial lifted their target price on Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a research report on Wednesday, July 9th. Finally, Evercore ISI raised Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective for the company in a research report on Tuesday, August 19th. Two 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $464.33.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $466.06 on Friday. The business’s fifty day moving average price is $430.98 and its two-hundred day moving average price is $373.71. The stock has a market cap of $218.34 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 2.83 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar Inc. has a one year low of $267.30 and a one year high of $485.34.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (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 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 business earned $5.99 EPS. Caterpillar’s revenue for the quarter was down .7% compared to the same quarter last year. On average, analysts forecast 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.