Caterpillar Inc. $CAT Shares Sold by Janney Capital Management LLC

Janney Capital Management LLC lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,299 shares of the industrial products company’s stock after selling 488 shares during the quarter. Caterpillar accounts for 1.0% of Janney Capital Management LLC’s investment portfolio, making the stock its 26th biggest position. Janney Capital Management LLC’s holdings in Caterpillar were worth $14,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of CAT. Compass Financial Services Inc lifted its stake in shares of Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in shares of Caterpillar during the second quarter worth about $32,000. Curat Global LLC purchased a new stake in shares of Caterpillar during the first quarter worth about $33,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Caterpillar during the first quarter worth about $33,000. Finally, Fiduciary Wealth Partners LLC purchased a new stake in shares of Caterpillar during the first quarter worth about $45,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CAT shares. Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price on the stock in a research report on Wednesday, July 9th. DA Davidson boosted their price objective on Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Oppenheimer boosted their price objective on Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a report on Monday. Truist Financial boosted their price objective on Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Citigroup reissued a “buy” rating on shares of Caterpillar in a report on Tuesday, September 23rd. 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $466.53.

Caterpillar Stock Performance

Shares of CAT stock opened at $471.68 on Tuesday. 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 business has a 50 day moving average of $432.21 and a two-hundred day moving average of $374.91. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $485.34. The company has a market cap of $220.97 billion, a P/E ratio of 23.99, a PEG ratio of 2.83 and a beta of 1.41.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The company had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.99 earnings per share. As a group, analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Transactions at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,819 shares of company stock worth $16,885,492. Company insiders own 0.33% of the company’s stock.

Caterpillar 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.