OLD Point Trust & Financial Services N A Purchases 100 Shares of Caterpillar Inc. $CAT

OLD Point Trust & Financial Services N A raised its position in Caterpillar Inc. (NYSE:CAT) by 8.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,317 shares of the industrial products company’s stock after purchasing an additional 100 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Caterpillar were worth $511,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. GSB Wealth Management LLC boosted 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 worth $832,000 after purchasing an additional 26 shares in the last quarter. Verum Partners LLC boosted its holdings in shares of Caterpillar by 2.5% in the 2nd quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock worth $411,000 after purchasing an additional 26 shares in the last quarter. Vanguard Capital Wealth Advisors boosted its holdings in shares of Caterpillar by 0.8% in the 2nd quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock worth $1,388,000 after purchasing an additional 27 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Caterpillar by 2.4% in the 2nd 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 in the last quarter. Finally, McAdam LLC boosted its holdings in Caterpillar by 1.6% during 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 period. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Trading Up 1.1%

CAT opened at $477.03 on Wednesday. The business has a 50 day simple moving average of $433.41 and a two-hundred day simple moving average of $375.62. The firm has a market capitalization of $223.48 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 2.87 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. Caterpillar Inc. has a one year low of $267.30 and a one year high of $485.34.

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

Wall Street Analysts Forecast Growth

CAT has been the subject of several analyst reports. Robert W. Baird increased their target price on Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. DA Davidson increased their target price on Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Truist Financial increased their target price on Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Barclays increased their target price on Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Finally, Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price for the company in a report on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $466.53.

Insider Transactions at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction that occurred on 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 transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at $199,211,839.35. This represents a 3.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,819 shares of company stock valued at $16,885,492. Corporate 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.