SOA Wealth Advisors LLC. Grows Stock Position in Caterpillar Inc. $CAT

SOA Wealth Advisors LLC. lifted its stake in Caterpillar Inc. (NYSE:CATFree Report) by 136.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 745 shares of the industrial products company’s stock after buying an additional 430 shares during the period. SOA Wealth Advisors LLC.’s holdings in Caterpillar were worth $289,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Trivium Point Advisory LLC grew its stake in shares of Caterpillar by 132.9% in the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock worth $748,000 after purchasing an additional 1,099 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Caterpillar by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock worth $26,037,000 after purchasing an additional 7,125 shares during the last quarter. Ransom Advisory Ltd bought a new stake in shares of Caterpillar in the first quarter worth about $427,000. Charles Schwab Investment Management Inc. grew its stake in shares of Caterpillar by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock worth $1,089,798,000 after purchasing an additional 15,347 shares during the last quarter. Finally, Heartwood Wealth Advisors LLC grew its stake in shares of Caterpillar by 4.2% in the second quarter. Heartwood Wealth Advisors LLC now owns 2,975 shares of the industrial products company’s stock worth $1,155,000 after purchasing an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CAT. DA Davidson lifted their price objective on Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their price objective on Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. Bank of America lifted their price objective on Caterpillar from $495.00 to $517.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Truist Financial lifted 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. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $500.00 price objective on shares of Caterpillar in a research report on Friday, August 29th. Two equities research 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 stock. Based on data from MarketBeat, Caterpillar currently has an average rating of “Moderate Buy” and an average target price of $466.53.

Check Out Our Latest Stock Analysis on Caterpillar

Caterpillar Price Performance

Shares of NYSE CAT opened at $490.88 on Friday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $495.98. The firm has a market cap of $229.97 billion, a P/E ratio of 24.97, a PEG ratio of 2.92 and a beta of 1.46. The company has a 50 day moving average of $435.71 and a 200 day moving average of $377.37. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CATGet Free Report) last announced its quarterly earnings data 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 firm had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. During the same quarter in the previous year, the firm earned $5.99 earnings per share. Caterpillar’s revenue was down .7% on a year-over-year basis. As a group, research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction 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 sale, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,819 shares of company stock worth $16,885,492 in the last three months. Insiders own 0.33% of the company’s stock.

Caterpillar Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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