City Holding Co. Decreases Holdings in Caterpillar Inc. $CAT

City Holding Co. lowered its stake in Caterpillar Inc. (NYSE:CAT) by 0.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 21,558 shares of the industrial products company’s stock after selling 131 shares during the period. Caterpillar accounts for approximately 1.1% of City Holding Co.’s holdings, making the stock its 19th largest holding. City Holding Co.’s holdings in Caterpillar were worth $8,369,000 as of its most recent filing with the Securities and Exchange Commission.

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

Caterpillar Stock Up 0.5%

Shares of NYSE CAT opened at $466.06 on Friday. The stock has a fifty day moving average price of $430.98 and a 200 day moving average price of $373.71. The company has a market cap of $218.34 billion, a P/E ratio of 23.71, a P/E/G ratio of 2.83 and a beta of 1.41. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $485.34. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50.

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

Insider Buying and Selling at Caterpillar

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the sale, the chairman directly owned 482,505 shares of the company’s stock, valued at $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar 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 completion of the transaction, the director owned 6,917 shares of the company’s stock, valued at approximately $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 ninety days. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on CAT shares. Truist Financial upped their price objective on Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. raised their price target on shares of Caterpillar from $475.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. Melius raised shares of 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. Citigroup restated a “buy” rating on shares of Caterpillar in a research report on Tuesday. Finally, Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price for the company in a research note on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.