Caterpillar Inc. $CAT Shares Sold by Worth Financial Advisory Group LLC

Worth Financial Advisory Group LLC reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 9.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,803 shares of the industrial products company’s stock after selling 187 shares during the quarter. Worth Financial Advisory Group LLC’s holdings in Caterpillar were worth $700,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CAT. Compass Financial Services Inc boosted 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 worth $31,000 after acquiring an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in shares of Caterpillar in the 2nd quarter valued at about $32,000. Curat Global LLC purchased a new stake in shares of Caterpillar in the 1st quarter valued at about $33,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Caterpillar in the 1st quarter valued at about $33,000. Finally, Fiduciary Wealth Partners LLC acquired a new stake in Caterpillar during the 1st quarter worth approximately $45,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the sale, the chairman owned 465,339 shares in the company, valued at $215,289,088.35. This trade represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the sale, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,819 shares of company stock worth $16,885,492 over the last quarter. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on CAT. Evercore ISI raised Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective for the company in a research report on Tuesday, August 19th. Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective for the company in a research report on Wednesday, July 9th. Barclays increased their target price on Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. raised their price objective on Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. Finally, Robert W. Baird raised their price objective on Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $464.33.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $466.06 on Friday. The business’s fifty day moving average price is $430.98 and its two-hundred day moving average price is $373.71. The stock has a market cap of $218.34 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 2.83 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar Inc. has a one year low of $267.30 and a one year high of $485.34.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter last year, the business earned $5.99 EPS. Caterpillar’s revenue for the quarter was down .7% compared to the same quarter last year. On average, analysts forecast that Caterpillar Inc. will post 19.86 EPS 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.