Oak Asset Management LLC Has $2.37 Million Stock Holdings in Caterpillar Inc. $CAT

Oak Asset Management LLC cut its holdings in Caterpillar Inc. (NYSE:CAT) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,095 shares of the industrial products company’s stock after selling 25 shares during the quarter. Oak Asset Management LLC’s holdings in Caterpillar were worth $2,366,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Lincoln Capital LLC acquired a new position in Caterpillar during the 2nd quarter worth approximately $905,000. Halter Ferguson Financial Inc. acquired a new position in Caterpillar during the 2nd quarter worth approximately $226,000. Deane Retirement Strategies Inc. acquired a new position in Caterpillar during the 2nd quarter worth approximately $5,626,000. Farther Finance Advisors LLC boosted its position in Caterpillar by 8.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 12,842 shares of the industrial products company’s stock worth $4,985,000 after acquiring an additional 999 shares during the last quarter. Finally, CX Institutional boosted its position in Caterpillar by 8.4% during the 2nd quarter. CX Institutional now owns 33,518 shares of the industrial products company’s stock worth $13,012,000 after acquiring an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Oppenheimer reduced their price target on Caterpillar from $493.00 to $480.00 and set an “outperform” rating for the company in a research report on Friday, August 29th. Barclays upped their price target on Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Robert W. Baird increased their price objective on Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a report on Wednesday. Bank of America increased their price objective on Caterpillar from $460.00 to $495.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Truist Financial increased 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. Two investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $460.20.

Insiders Place Their Bets

In other news, insider Jason Kaiser sold 2,161 shares of the stock in a transaction 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 sale, the insider directly owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction 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 sale, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,653 shares of company stock worth $8,943,642 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Down 0.1%

CAT stock opened at $466.62 on Friday. 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 has a market capitalization of $218.60 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 2.84 and a beta of 1.41. The business’s fifty day moving average price is $425.21 and its two-hundred day moving average price is $369.34. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $472.12.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data 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 the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.99 EPS. On average, equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

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.