Caterpillar Inc. $CAT Shares Acquired by Stone Summit Wealth LLC

Stone Summit Wealth LLC boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,177 shares of the industrial products company’s stock after buying an additional 100 shares during the quarter. Stone Summit Wealth LLC’s holdings in Caterpillar were worth $2,786,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CAT. Pacer Advisors Inc. boosted its stake in shares of Caterpillar by 2,723.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock valued at $466,430,000 after buying an additional 1,364,183 shares during the period. Nuveen LLC bought a new position in Caterpillar in the 1st quarter worth $391,788,000. Assenagon Asset Management S.A. increased its holdings in shares of Caterpillar by 546.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock worth $327,297,000 after purchasing an additional 712,711 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Caterpillar by 9.1% during 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 period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake 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. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

Shares of CAT opened at $466.06 on Friday. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $485.34. The firm has a fifty day simple moving average of $430.98 and a 200 day simple moving average of $373.71. The stock has a market capitalization of $218.34 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 2.83 and a beta of 1.41. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT) last announced its 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). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the previous year, the company posted $5.99 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. Research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on CAT shares. Barclays boosted their price target on shares of Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Jefferies Financial Group restated a “buy” rating and issued a $500.00 price objective on shares of Caterpillar in a report on Friday, August 29th. DA Davidson increased their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Melius raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a research note on Wednesday, July 9th. Finally, Robert W. Baird upped their target price on shares of Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $464.33.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jason Kaiser sold 2,161 shares of the 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 sale, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,819 shares of company stock worth $16,885,492 over the last quarter. 0.33% of the stock is currently owned by insiders.

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.