Weatherly Asset Management L. P. Sells 192 Shares of Caterpillar Inc. $CAT

Weatherly Asset Management L. P. reduced its position in Caterpillar Inc. (NYSE:CAT) by 3.1% during the second quarter, Holdings Channel reports. The institutional investor owned 6,015 shares of the industrial products company’s stock after selling 192 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Caterpillar were worth $2,335,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in 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 valued at $1,386,626,000 after acquiring an additional 264,054 shares during the period. GAMMA Investing LLC raised its stake in shares of Caterpillar by 43,447.3% during the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company’s stock worth $1,230,239,000 after purchasing an additional 3,721,693 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Caterpillar by 0.5% during 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 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 valued at $1,064,951,000 after purchasing an additional 268,300 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Caterpillar by 5.0% in 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 acquiring an additional 150,533 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CAT shares. Sanford C. Bernstein reissued a “market perform” rating on shares of Caterpillar in a research report on Monday, July 14th. Evercore ISI upgraded shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target on the stock in a report on Tuesday, August 19th. JPMorgan Chase & Co. raised their price target on shares of Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. Citigroup lifted their price objective on shares of Caterpillar from $460.00 to $500.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Barclays increased their price objective on shares of Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Two 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’s stock. According to MarketBeat, Caterpillar currently has an average rating of “Moderate Buy” and a consensus target price of $460.20.

Caterpillar Stock Performance

NYSE:CAT opened at $466.62 on Friday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $472.12. The stock has a fifty day moving average price of $425.21 and a 200-day moving average price of $369.13. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The company has a market cap of $218.60 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 2.84 and a beta of 1.41.

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

Insider Buying and Selling at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar 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 sale, the chairman owned 482,505 shares of the company’s stock, valued at $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the company’s stock in a transaction 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 owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,653 shares of company stock valued at $8,943,642. 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.