Caterpillar Inc. $CAT Shares Sold by First County Bank CT

First County Bank CT lowered its position in Caterpillar Inc. (NYSE:CAT) by 5.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,927 shares of the industrial products company’s stock after selling 184 shares during the period. First County Bank CT’s holdings in Caterpillar were worth $1,136,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Caterpillar by 9.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock worth $26,037,000 after purchasing an additional 7,125 shares during the last quarter. Ransom Advisory Ltd purchased a new position in Caterpillar during the first quarter worth approximately $427,000. Charles Schwab Investment Management Inc. increased its stake in shares of Caterpillar by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock worth $1,089,798,000 after acquiring an additional 15,347 shares during the last quarter. Heartwood Wealth Advisors LLC increased its stake in shares of Caterpillar by 4.2% in the 2nd quarter. Heartwood Wealth Advisors LLC now owns 2,975 shares of the industrial products company’s stock worth $1,155,000 after acquiring an additional 121 shares during the last quarter. Finally, Fiduciary Financial Group LLC grew its holdings in shares of Caterpillar by 81.2% in the second quarter. Fiduciary Financial Group LLC now owns 1,913 shares of the industrial products company’s stock valued at $748,000 after purchasing an additional 857 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CAT. Sanford C. Bernstein reiterated a “market perform” rating on shares of Caterpillar in a report on Monday, July 14th. Oppenheimer reduced 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. JPMorgan Chase & Co. increased their price objective on Caterpillar from $475.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Robert W. Baird increased their price target on Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Finally, DA Davidson upped their target price on shares of Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $464.33.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is owned by insiders.

Caterpillar Price Performance

Caterpillar stock opened at $466.06 on Monday. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $485.34. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The firm’s 50-day simple moving average is $430.98 and its 200 day simple moving average is $373.99. The firm has a market capitalization of $218.34 billion, a PE ratio of 23.71, a P/E/G ratio of 2.83 and a beta of 1.41.

Caterpillar (NYSE:CAT) last announced 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). The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.99 EPS. On average, equities research analysts predict 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.