Jupiter Wealth Management LLC Decreases Stock Holdings in Caterpillar Inc. $CAT

Jupiter Wealth Management LLC reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 35.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 808 shares of the industrial products company’s stock after selling 450 shares during the quarter. Jupiter Wealth Management LLC’s holdings in Caterpillar were worth $285,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CAT. Investment Management Corp VA ADV purchased a new position in shares of Caterpillar in the 4th quarter worth $33,000. Curat Global LLC purchased a new position in Caterpillar in the first quarter worth about $33,000. Redmont Wealth Advisors LLC bought a new stake in Caterpillar during the first quarter worth approximately $33,000. Mpwm Advisory Solutions LLC purchased a new stake in Caterpillar during the fourth quarter valued at approximately $36,000. Finally, Mattson Financial Services LLC bought a new stake in shares of Caterpillar in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 1.1%

Shares of NYSE:CAT opened at $417.96 on Wednesday. The business’s 50 day moving average is $418.27 and its 200 day moving average is $363.50. The stock has a market cap of $195.81 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 2.57 and a beta of 1.41. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $441.15. 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 (NYSE:CAT) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share 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 firm had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. During the same quarter in the prior year, the company posted $5.99 earnings per share. Caterpillar’s quarterly revenue was down .7% compared to the same quarter last year. Sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CAT. Oppenheimer cut their target price on Caterpillar from $493.00 to $480.00 and set an “outperform” rating on the stock in a research report on Friday, August 29th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Caterpillar in a research report on Monday, July 14th. DA Davidson raised their target price on shares of Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Robert W. Baird dropped their price target on shares of Caterpillar from $500.00 to $495.00 and set an “outperform” rating for the company in a research note on Friday, August 29th. Finally, Barclays increased their price objective on shares of Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and an average price target of $457.20.

Insiders Place Their Bets

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the transaction, the chairman directly owned 482,505 shares in the company, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,653 shares of company stock worth $8,943,642 in the last three months. Corporate insiders own 0.33% of the company’s stock.

About Caterpillar

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.