Joule Financial LLC Sells 119 Shares of Caterpillar Inc. $CAT

Joule Financial LLC decreased its holdings in Caterpillar Inc. (NYSE:CAT) by 10.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,037 shares of the industrial products company’s stock after selling 119 shares during the quarter. Joule Financial LLC’s holdings in Caterpillar were worth $403,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Caterpillar by 6.7% in 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 worth $1,386,626,000 after acquiring an additional 264,054 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Caterpillar by 0.5% in 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 in the last quarter. Goldman Sachs Group Inc. raised its position in Caterpillar by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock worth $1,064,951,000 after purchasing an additional 268,300 shares during the last quarter. Invesco Ltd. lifted its holdings in Caterpillar by 5.0% during the 1st quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock worth $1,036,211,000 after buying an additional 150,533 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in Caterpillar by 0.4% in the 1st 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 buying an additional 5,559 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of CAT opened at $498.48 on Monday. The firm’s 50 day moving average price is $436.99 and its two-hundred day moving average price is $379.06. 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 twelve month low of $267.30 and a twelve month high of $504.48. The firm has a market cap of $233.53 billion, a P/E ratio of 25.35, a PEG ratio of 3.03 and a beta of 1.46.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data 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 the consensus estimate of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.99 earnings per share. On average, analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Transactions at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were 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 of the company’s stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on 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 sale, the director owned 6,917 shares in the company, valued at $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. Insiders sold 38,819 shares of company stock valued at $16,885,492 over the last three months. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Caterpillar in a research note on Saturday, September 27th. Truist Financial boosted their price objective on Caterpillar from $414.00 to $507.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price on the stock in a research note on Wednesday, July 9th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Caterpillar in a research report on Monday, July 14th. Finally, Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective on the stock in a research note on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and a consensus price target of $466.53.

Caterpillar Company 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.