Tower View Wealth Management LLC Acquires Shares of 265 Caterpillar Inc. $CAT

Tower View Wealth Management LLC acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 265 shares of the industrial products company’s stock, valued at approximately $103,000.

Several other institutional investors have also bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Caterpillar by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock valued at $1,386,626,000 after purchasing an additional 264,054 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Caterpillar by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock valued at $1,089,798,000 after purchasing an additional 15,347 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Caterpillar by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after purchasing an additional 268,300 shares during the last quarter. Invesco Ltd. lifted its position in Caterpillar by 5.0% during the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock valued at $1,036,211,000 after purchasing an additional 150,533 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Caterpillar by 0.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,416,464 shares of the industrial products company’s stock valued at $467,150,000 after purchasing an additional 5,559 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 2.1%

CAT stock opened at $490.88 on Friday. The company has a market capitalization of $229.97 billion, a PE ratio of 24.97, a P/E/G ratio of 2.92 and a beta of 1.46. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $495.98. The firm’s 50-day moving average is $435.71 and its 200 day moving average is $377.37. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). The company had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business earned $5.99 EPS. On average, research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Buying and Selling

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman owned 482,505 shares of the company’s stock, valued at $199,211,839.35. This trade represents a 3.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. This 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 valued at $16,885,492 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

CAT has been the subject of several research reports. Evercore ISI upgraded shares of 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. Citigroup reissued a “buy” rating on shares of Caterpillar in a research note on Tuesday, September 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $500.00 target price on shares of Caterpillar in a research note on Friday, August 29th. Melius raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a research note on Wednesday, July 9th. Finally, Oppenheimer increased their target price on shares of Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $466.53.

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.