Bard Financial Services Inc. Increases Stake in Caterpillar Inc. $CAT

Bard Financial Services Inc. boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 144.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,090 shares of the industrial products company’s stock after acquiring an additional 1,825 shares during the period. Bard Financial Services Inc.’s holdings in Caterpillar were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Investment Management Corp VA ADV bought a new position in Caterpillar in the fourth quarter worth approximately $33,000. Compass Financial Services Inc raised its position in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 31 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in shares of Caterpillar during the 4th quarter worth $36,000. Mattson Financial Services LLC purchased a new position in Caterpillar in the fourth quarter valued at about $39,000. Finally, Curat Global LLC bought a new position in Caterpillar in the first quarter worth about $33,000. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CAT shares. Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Robert W. Baird cut their price target on shares of Caterpillar from $500.00 to $495.00 and set an “outperform” rating on the stock in a report on Friday, August 29th. 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. Jefferies Financial Group reissued a “buy” rating and issued a $500.00 price objective on shares of Caterpillar in a research report on Friday, August 29th. Finally, Evercore ISI raised Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price on the stock in a research report on Tuesday, August 19th. 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 a consensus rating of “Moderate Buy” and an average price target of $457.20.

Caterpillar Price Performance

NYSE CAT opened at $431.10 on Monday. The company has a market cap of $201.96 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 2.62 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. The stock’s fifty day moving average price is $420.04 and its 200 day moving average price is $365.49. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $441.15.

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

Insider Buying and Selling

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,653 shares of company stock worth $8,943,642. 0.33% of the stock is owned by company insiders.

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.