Caterpillar Inc. $CAT Stock Acquired by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc grew its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 69.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,195 shares of the industrial products company’s stock after purchasing an additional 1,308 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in Caterpillar were worth $2,557,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Lam Group Inc. purchased a new position in Caterpillar in the 1st quarter worth approximately $26,000. Decker Retirement Planning Inc. grew its position in shares of Caterpillar by 440.0% in the second quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 22 shares in the last quarter. Cornerstone Financial Management LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at approximately $32,000. Matrix Trust Co increased its holdings in shares of Caterpillar by 93.8% in the second quarter. Matrix Trust Co now owns 31 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 15 shares during the last quarter. Finally, Monetary Solutions Ltd acquired a new stake in shares of Caterpillar in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 5.0%

NYSE:CAT traded down $39.74 on Tuesday, reaching $759.63. 1,848,988 shares of the company’s stock were exchanged, compared to its average volume of 2,805,360. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $349.18 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 1.38 and a beta of 1.58. The business has a fifty day moving average of $821.64 and a 200-day moving average of $855.26. Caterpillar Inc. has a 52-week low of $499.01 and a 52-week high of $1,073.46.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.22 by $1.95. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%. The firm had revenue of $20.54 billion during the quarter, compared to analyst estimates of $19.34 billion. During the same period last year, the business posted $4.72 earnings per share. Caterpillar’s revenue was up 23.7% compared to the same quarter last year. As a group, analysts expect that Caterpillar Inc. will post 27.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

CAT has been the subject of several analyst reports. Citigroup dropped their target price on Caterpillar from $1,100.00 to $950.00 and set a “buy” rating for the company in a report on Monday. Truist Financial cut their target price on Caterpillar from $1,225.00 to $1,100.00 and set a “buy” rating for the company in a research note on Monday, October 5th. President Capital assumed coverage on Caterpillar in a report on Friday, September 18th. They set a “buy” rating and a $999.00 price target on the stock. Erste Group Bank cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Barclays upped their price objective on shares of Caterpillar from $800.00 to $900.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $982.92.

Insider Transactions at Caterpillar

In other news, CEO Joseph E. Creed sold 32,401 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $808.98, for a total value of $26,211,760.98. Following the completion of the transaction, the chief executive officer owned 34,555 shares in the company, valued at approximately $27,954,303.90. This represents a 48.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.33% of the stock is owned by company insiders.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its products are used in infrastructure development, construction, mining, energy production, transportation, agriculture, forestry, and other industrial applications.

The company markets equipment and related services through a worldwide network of independent dealers. Its operations are generally organized around Construction Industries, Resource Industries, and Energy & Transportation.