Global Trust Asset Management LLC Has $1.79 Million Position in Caterpillar Inc. $CAT

Global Trust Asset Management LLC cut its holdings in Caterpillar Inc. (NYSE:CAT) by 15.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,605 shares of the industrial products company’s stock after selling 858 shares during the quarter. Caterpillar comprises 1.0% of Global Trust Asset Management LLC’s holdings, making the stock its 20th biggest position. Global Trust Asset Management LLC’s holdings in Caterpillar were worth $1,788,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CAT. Pacer Advisors Inc. grew its position in shares of Caterpillar by 2,723.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock valued at $466,430,000 after purchasing an additional 1,364,183 shares during the period. Nuveen LLC acquired a new position in shares of Caterpillar in the 1st quarter valued at approximately $391,788,000. Assenagon Asset Management S.A. grew its position in shares of Caterpillar by 546.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock valued at $327,297,000 after purchasing an additional 712,711 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Caterpillar by 9.1% in the 1st 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 during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Caterpillar by 6.7% during the 1st 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 worth $1,386,626,000 after acquiring an additional 264,054 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Trading Up 0.5%

Shares of Caterpillar stock opened at $466.06 on Monday. The business has a fifty day simple moving average of $430.98 and a two-hundred day simple moving average of $373.99. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $485.34. The company has a market capitalization of $218.34 billion, a price-to-earnings ratio of 23.71, a P/E/G 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.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results 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 net margin of 14.95% and a return on equity of 48.95%. 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 business earned $5.99 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the 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 transaction, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the transaction, the director owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,819 shares of company stock worth $16,885,492 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CAT. Truist Financial upped 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. Barclays upped their price objective on Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Jefferies Financial Group reiterated a “buy” rating and set a $500.00 price objective on shares of Caterpillar in a research note on Friday, August 29th. Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Caterpillar in a research note on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $464.33.

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.