Beacon Capital Management LLC Acquires 78 Shares of Caterpillar Inc. (NYSE:CAT)

Beacon Capital Management LLC lifted its stake in Caterpillar Inc. (NYSE:CAT) by 7.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,165 shares of the industrial products company’s stock after purchasing an additional 78 shares during the quarter. Beacon Capital Management LLC’s holdings in Caterpillar were worth $287,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Herold Advisors Inc. increased its position in shares of Caterpillar by 4.1% during the first quarter. Herold Advisors Inc. now owns 1,304 shares of the industrial products company’s stock valued at $298,000 after acquiring an additional 51 shares in the last quarter. BerganKDV Wealth Management LLC boosted its position in shares of Caterpillar by 29.3% during the first quarter. BerganKDV Wealth Management LLC now owns 618 shares of the industrial products company’s stock valued at $142,000 after buying an additional 140 shares during the last quarter. abrdn plc increased its holdings in Caterpillar by 11.3% in the 1st quarter. abrdn plc now owns 348,514 shares of the industrial products company’s stock worth $79,754,000 after buying an additional 35,488 shares in the last quarter. Delta Financial Group Inc. raised its position in Caterpillar by 106.8% in the 1st quarter. Delta Financial Group Inc. now owns 3,147 shares of the industrial products company’s stock worth $720,000 after buying an additional 1,625 shares during the last quarter. Finally, Everhart Financial Group Inc. lifted its stake in Caterpillar by 34.8% during the 1st quarter. Everhart Financial Group Inc. now owns 1,393 shares of the industrial products company’s stock valued at $319,000 after acquiring an additional 360 shares during the period. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT traded down $0.67 during trading on Tuesday, hitting $280.27. 251,252 shares of the company’s stock were exchanged, compared to its average volume of 3,062,673. The business’s 50-day simple moving average is $273.63 and its 200 day simple moving average is $242.50. The company has a market cap of $142.97 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.17 and a beta of 1.13. Caterpillar Inc. has a 52-week low of $160.60 and a 52-week high of $293.88. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.33 and a quick ratio of 0.83.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $5.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.57 by $0.98. Caterpillar had a net margin of 12.91% and a return on equity of 55.93%. The business had revenue of $17.30 billion during the quarter, compared to analyst estimates of $16.46 billion. During the same period last year, the firm posted $3.18 EPS. The company’s revenue was up 21.4% on a year-over-year basis. As a group, equities analysts predict that Caterpillar Inc. will post 19.82 EPS for the current year.

Analyst Upgrades and Downgrades

CAT has been the subject of several research reports. Bank of America boosted their price objective on shares of Caterpillar from $283.00 to $323.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Robert W. Baird increased their price target on Caterpillar from $183.00 to $234.00 and gave the company an “underperform” rating in a report on Wednesday, August 2nd. TD Cowen upped their price objective on Caterpillar from $287.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. JPMorgan Chase & Co. boosted their price target on Caterpillar from $275.00 to $315.00 and gave the company an “overweight” rating in a research note on Wednesday, August 2nd. Finally, The Goldman Sachs Group increased their price objective on shares of Caterpillar from $274.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $267.00.

Insiders Place Their Bets

In other news, insider Anthony D. Fassino sold 2,923 shares of Caterpillar stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $279.00, for a total value of $815,517.00. Following the sale, the insider now directly owns 16,182 shares of the company’s stock, valued at $4,514,778. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Cheryl H. Johnson sold 6,415 shares of the firm’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $260.00, for a total value of $1,667,900.00. Following the completion of the sale, the insider now directly owns 16,362 shares in the company, valued at $4,254,120. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Anthony D. Fassino sold 2,923 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $279.00, for a total transaction of $815,517.00. Following the completion of the sale, the insider now directly owns 16,182 shares in the company, valued at approximately $4,514,778. The disclosure for this sale can be found here. Insiders have sold a total of 54,918 shares of company stock worth $15,299,870 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Company Profile

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.