Corundum Group Inc. Has $1.30 Million Stock Holdings in Caterpillar Inc. $CAT

Corundum Group Inc. raised its holdings in Caterpillar Inc. (NYSE:CAT) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,345 shares of the industrial products company’s stock after purchasing an additional 63 shares during the quarter. Corundum Group Inc.’s holdings in Caterpillar were worth $1,299,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Segment Wealth Management LLC lifted its stake in shares of Caterpillar by 1.2% in the 2nd quarter. Segment Wealth Management LLC now owns 42,449 shares of the industrial products company’s stock valued at $16,479,000 after acquiring an additional 506 shares during the last quarter. Precedent Wealth Partners LLC bought a new position in shares of Caterpillar in the 2nd quarter valued at $1,606,000. Montz Harcus Wealth Management LLC lifted its stake in shares of Caterpillar by 10.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 1,980 shares of the industrial products company’s stock valued at $769,000 after acquiring an additional 183 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Caterpillar by 11.2% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock valued at $5,557,000 after acquiring an additional 1,440 shares during the last quarter. Finally, Exchange Capital Management Inc. lifted its stake in shares of Caterpillar by 7.8% in the 2nd quarter. Exchange Capital Management Inc. now owns 1,011 shares of the industrial products company’s stock valued at $392,000 after acquiring an additional 73 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $498.48 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The business has a 50-day moving average price of $436.99 and a two-hundred day moving average price of $378.48. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $504.48. The company has a market cap of $233.53 billion, a P/E ratio of 25.35, a PEG ratio of 2.98 and a beta of 1.46.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target for the company in a research note on Tuesday, August 19th. Bank of America increased their price target on Caterpillar from $495.00 to $517.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Citigroup reaffirmed a “buy” rating on shares of Caterpillar in a research report on Tuesday, September 23rd. Truist Financial raised their target price on Caterpillar from $414.00 to $507.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Finally, Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and an average target price of $466.53.

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the stock in a transaction dated 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 sale, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,819 shares of company stock worth $16,885,492. Company insiders own 0.33% of the company’s stock.

About Caterpillar

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.