Caterpillar Inc. (NYSE:CAT) Shares Acquired by Excalibur Management Corp

Excalibur Management Corp increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 32.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,906 shares of the industrial products company’s stock after buying an additional 468 shares during the quarter. Excalibur Management Corp’s holdings in Caterpillar were worth $635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CAT. Gilbert & Cook Inc. grew its holdings in shares of Caterpillar by 3.9% during the fourth quarter. Gilbert & Cook Inc. now owns 5,059 shares of the industrial products company’s stock valued at $1,496,000 after buying an additional 192 shares in the last quarter. 9258 Wealth Management LLC grew its holdings in shares of Caterpillar by 1.5% during the fourth quarter. 9258 Wealth Management LLC now owns 3,839 shares of the industrial products company’s stock valued at $1,135,000 after buying an additional 55 shares in the last quarter. Rollins Financial grew its holdings in shares of Caterpillar by 49.1% during the fourth quarter. Rollins Financial now owns 6,395 shares of the industrial products company’s stock valued at $1,891,000 after buying an additional 2,107 shares in the last quarter. Gryphon Financial Partners LLC grew its holdings in shares of Caterpillar by 6.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,496 shares of the industrial products company’s stock valued at $420,000 after buying an additional 92 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in Caterpillar by 17.1% during the fourth quarter. Brown Advisory Inc. now owns 85,363 shares of the industrial products company’s stock valued at $25,239,000 after purchasing an additional 12,490 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup assumed coverage on Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price objective for the company. Truist Financial reissued a “buy” rating and set a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Raymond James assumed coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating for the company. UBS Group lifted their price objective on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Finally, Barclays lifted their price objective on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $336.31.

Caterpillar Price Performance

NYSE CAT opened at $347.96 on Tuesday. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The stock has a market capitalization of $170.17 billion, a PE ratio of 15.71, a P/E/G ratio of 1.56 and a beta of 1.10. The stock has a 50-day simple moving average of $341.08 and a 200 day simple moving average of $344.15.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. During the same period in the previous year, the company posted $5.55 earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. Research analysts anticipate that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar declared that its Board of Directors has approved a stock repurchase program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Caterpillar

In related news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total transaction of $527,800.00. Following the transaction, the insider now directly owns 18,515 shares in the company, valued at $6,480,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now owns 18,515 shares in the company, valued at $6,480,250. The disclosure for this sale can be found here. Insiders have sold 7,668 shares of company stock worth $2,665,760 over the last three months. Company insiders own 0.33% of the company’s stock.

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.