Burke & Herbert Bank & Trust Co. Cuts Position in Caterpillar Inc. (NYSE:CAT)

Burke & Herbert Bank & Trust Co. lessened its position in Caterpillar Inc. (NYSE:CAT) by 36.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,679 shares of the industrial products company’s stock after selling 1,561 shares during the quarter. Burke & Herbert Bank & Trust Co.’s holdings in Caterpillar were worth $659,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CAT. Herold Advisors Inc. lifted its position in Caterpillar by 4.1% in the first quarter. Herold Advisors Inc. now owns 1,304 shares of the industrial products company’s stock valued at $298,000 after purchasing an additional 51 shares during the last quarter. BerganKDV Wealth Management LLC lifted its position in Caterpillar by 29.3% in the first quarter. BerganKDV Wealth Management LLC now owns 618 shares of the industrial products company’s stock valued at $142,000 after purchasing an additional 140 shares during the last quarter. abrdn plc lifted its position in Caterpillar by 11.3% in the first quarter. abrdn plc now owns 348,514 shares of the industrial products company’s stock valued at $79,754,000 after purchasing an additional 35,488 shares during the last quarter. Delta Financial Group Inc. grew its stake in shares of Caterpillar by 106.8% in the first quarter. Delta Financial Group Inc. now owns 3,147 shares of the industrial products company’s stock worth $720,000 after purchasing an additional 1,625 shares during the last quarter. Finally, Everhart Financial Group Inc. grew its stake in shares of Caterpillar by 34.8% in the first quarter. Everhart Financial Group Inc. now owns 1,393 shares of the industrial products company’s stock worth $319,000 after purchasing an additional 360 shares during the last quarter. Institutional investors own 69.20% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT traded up $2.79 during trading on Monday, hitting $281.94. 608,605 shares of the company’s stock were exchanged, compared to its average volume of 3,074,366. The company has a market cap of $143.82 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 1.19 and a beta of 1.13. Caterpillar Inc. has a 52-week low of $160.60 and a 52-week high of $293.88. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.33 and a quick ratio of 0.83. The business’s 50-day simple moving average is $272.99 and its 200 day simple moving average is $242.30.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $5.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $16.46 billion. During the same period last year, the firm posted $3.18 earnings per share. Caterpillar’s revenue for the quarter was up 21.4% compared to the same quarter last year. As a group, equities analysts predict that Caterpillar Inc. will post 19.82 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on CAT. Wells Fargo & Company raised their target price on Caterpillar from $240.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 2nd. Tigress Financial upped their price objective on shares of Caterpillar from $266.00 to $282.00 in a report on Wednesday, May 31st. Citigroup upped their price objective on shares of Caterpillar from $240.00 to $270.00 and gave the stock a “neutral” rating in a report on Monday, July 17th. Robert W. Baird lifted their price target on Caterpillar from $183.00 to $234.00 and gave the company an “underperform” rating in a research report on Wednesday, August 2nd. Finally, DA Davidson initiated coverage on Caterpillar in a research report on Wednesday, June 21st. They set a “neutral” rating and a $263.00 price target on the stock. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $267.00.

Insider Buying and Selling at Caterpillar

In related news, insider Anthony D. Fassino sold 2,923 shares of Caterpillar stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $279.00, for a total transaction of $815,517.00. Following the completion of the transaction, the insider now directly owns 16,182 shares of the company’s stock, valued at approximately $4,514,778. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 2,923 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $279.00, for a total value of $815,517.00. Following the sale, the insider now owns 16,182 shares in the company, valued at $4,514,778. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Cheryl H. Johnson sold 18,294 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $286.33, for a total value of $5,238,121.02. Following the completion of the sale, the insider now owns 16,362 shares in the company, valued at approximately $4,684,931.46. The disclosure for this sale can be found here. Insiders have sold a total of 54,918 shares of company stock worth $15,299,870 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Caterpillar Profile

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.