Caterpillar Inc. $CAT Shares Bought by Cullinan Associates Inc.

Cullinan Associates Inc. grew its stake in Caterpillar Inc. (NYSE:CAT) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,666 shares of the industrial products company’s stock after purchasing an additional 644 shares during the quarter. Caterpillar makes up approximately 0.9% of Cullinan Associates Inc.’s holdings, making the stock its 29th biggest holding. Cullinan Associates Inc.’s holdings in Caterpillar were worth $13,846,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Compass Financial Services Inc raised its position in shares of Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC bought a new stake in Caterpillar during the second quarter valued at $32,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Caterpillar during the first quarter worth $33,000. Fiduciary Wealth Partners LLC bought a new position in shares of Caterpillar in the 1st quarter worth about $45,000. Finally, Maseco LLP acquired a new position in shares of Caterpillar in the 2nd quarter valued at about $45,000. 70.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CAT has been the topic of several research reports. Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Evercore ISI raised Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target on the stock in a report on Tuesday, August 19th. Barclays upped their price objective on Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Robert W. Baird raised their target price on Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Finally, Oppenheimer boosted their price target on shares of Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $466.53.

Insider Buying and Selling at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of Caterpillar 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, the director owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,819 shares of company stock valued at $16,885,492. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Performance

CAT stock opened at $498.48 on Monday. The company has a 50-day simple moving average of $436.99 and a 200 day simple moving average of $379.06. The company has a market capitalization of $233.53 billion, a P/E ratio of 25.35, a PEG ratio of 3.03 and a beta of 1.46. 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 Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $504.48.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The company 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% compared to the same quarter last year. During the same quarter last year, the firm posted $5.99 earnings per share. Sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal 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.