Caterpillar Inc. (NYSE:CAT) is CCM Investment Advisers LLC’s 10th Largest Position

Posted by Defense World Staff on Sep 13th, 2023

CCM Investment Advisers LLC lifted its holdings in Caterpillar Inc. (NYSE:CAT – Free Report) by 1.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 67,180 shares of the industrial products company’s stock after purchasing an additional 738 shares during the period. Caterpillar comprises 2.2% of CCM Investment Advisers LLC’s holdings, making the stock its 10th biggest position. CCM Investment Advisers LLC’s holdings in Caterpillar were worth $15,374,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Horan Securities Inc. increased its stake in Caterpillar by 678.6% during the 1st quarter. Horan Securities Inc. now owns 109 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 95 shares in the last quarter. Atlas Capital Advisors LLC increased its stake in Caterpillar by 272.4% during the 1st quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in Caterpillar by 730.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 95 shares in the last quarter. TFC Financial Management Inc. increased its stake in Caterpillar by 470.8% during the 1st quarter. TFC Financial Management Inc. now owns 137 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 113 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Caterpillar during the 1st quarter valued at approximately $32,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Insider Buying and Selling

In related news, insider Lange Bob De sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $275.00, for a total transaction of $5,500,000.00. Following the completion of the sale, the insider now directly owns 53,671 shares in the company, valued at $14,759,525. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Caterpillar news, insider Cheryl H. Johnson sold 6,415 shares of Caterpillar stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $260.00, for a total transaction of $1,667,900.00. Following the completion of the sale, the insider now directly owns 16,362 shares in the company, valued at $4,254,120. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lange Bob De sold 20,000 shares of Caterpillar stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $275.00, for a total transaction of $5,500,000.00. Following the sale, the insider now owns 53,671 shares of the company’s stock, valued at $14,759,525. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,918 shares of company stock worth $15,299,870. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CAT. StockNews.com upgraded shares of Caterpillar from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Stifel Nicolaus raised their price target on shares of Caterpillar from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Bank of America raised their price target on shares of Caterpillar from $283.00 to $323.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Robert W. Baird increased their price objective on shares of Caterpillar from $183.00 to $234.00 and gave the company an “underperform” rating in a report on Wednesday, August 2nd. Finally, Tigress Financial increased their price objective on shares of Caterpillar from $266.00 to $282.00 in a report on Wednesday, May 31st. Three analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $267.00.

View Our Latest Research Report on Caterpillar

Caterpillar Price Performance

Caterpillar stock opened at $281.81 on Wednesday. Caterpillar Inc. has a 12-month low of $160.60 and a 12-month high of $293.88. The stock has a market cap of $143.75 billion, a P/E ratio of 17.54, a PEG ratio of 1.18 and a beta of 1.13. The company has a 50-day moving average price of $270.84 and a 200 day moving average price of $241.52. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 1.26.

Caterpillar (NYSE:CAT – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $5.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.57 by $0.98. Caterpillar had a net margin of 12.91% and a return on equity of 55.93%. The firm had revenue of $17.30 billion during the quarter, compared to analysts’ expectations of $16.46 billion. During the same period last year, the business earned $3.18 earnings per share. Caterpillar’s revenue was up 21.4% compared to the same quarter last year. Sell-side analysts anticipate that Caterpillar Inc. will post 19.82 earnings per share for the current year.

About Caterpillar

(Free Report)

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.