Stone Summit Wealth LLC Acquires 100 Shares of Caterpillar Inc. $CAT

Stone Summit Wealth LLC increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 1.4% during the second quarter, Holdings Channel.com reports. The fund owned 7,177 shares of the industrial products company’s stock after purchasing an additional 100 shares during the quarter. Stone Summit Wealth LLC’s holdings in Caterpillar were worth $2,786,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Pacific Point Advisors LLC bought a new position in Caterpillar in the 4th quarter valued at about $579,000. Brighton Jones LLC increased its holdings in Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after buying an additional 2,519 shares during the period. Wellington Management Group LLP grew its holdings in shares of Caterpillar by 72.2% during the 4th quarter. Wellington Management Group LLP now owns 88,936 shares of the industrial products company’s stock valued at $32,262,000 after purchasing an additional 37,282 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Caterpillar by 25.9% during the 1st quarter. Versant Capital Management Inc now owns 1,455 shares of the industrial products company’s stock valued at $480,000 after purchasing an additional 299 shares during the last quarter. Finally, Central Pacific Bank Trust Division grew its holdings in shares of Caterpillar by 12.5% during the 1st quarter. Central Pacific Bank Trust Division now owns 1,179 shares of the industrial products company’s stock valued at $389,000 after purchasing an additional 131 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CAT shares. JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Bank of America lifted their target price on shares of Caterpillar from $495.00 to $517.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Jefferies Financial Group restated a “buy” rating and issued a $500.00 price target on shares of Caterpillar in a research report on Friday, August 29th. Oppenheimer dropped their price target on shares of Caterpillar from $493.00 to $480.00 and set an “outperform” rating on the stock in a research report on Friday, August 29th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a research report on Monday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $464.33.

Caterpillar Stock Up 0.5%

Caterpillar stock opened at $466.06 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $485.34. The firm’s fifty day moving average is $430.98 and its 200 day moving average is $373.71. The company has a market capitalization of $218.34 billion, a PE ratio of 23.71, a PEG ratio of 2.83 and a beta of 1.41.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the previous year, the firm earned $5.99 EPS. The firm’s revenue was down .7% on a year-over-year basis. As a group, sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Transactions at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the transaction, the chairman owned 465,339 shares of the company’s stock, valued at approximately $215,289,088.35. The trade was a 3.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,819 shares of company stock worth $16,885,492 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

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.