Northstar Group Inc. Sells 100 Shares of Caterpillar Inc. $CAT

Northstar Group Inc. lessened its holdings in Caterpillar Inc. (NYSE:CAT) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,486 shares of the industrial products company’s stock after selling 100 shares during the quarter. Northstar Group Inc.’s holdings in Caterpillar were worth $965,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Family Legacy Financial Solutions LLC purchased a new stake in shares of Caterpillar in the 2nd quarter worth $32,000. Compass Financial Services Inc lifted its holdings in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after buying an additional 31 shares during the period. Curat Global LLC purchased a new stake in shares of Caterpillar in the 1st quarter worth $33,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Caterpillar in the 1st quarter worth $33,000. Finally, Maseco LLP purchased a new stake in shares of Caterpillar in the 2nd quarter worth $45,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Bank of America upped their price objective on Caterpillar from $495.00 to $517.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Melius Research upgraded Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective for the company in a research note on Wednesday, July 9th. JPMorgan Chase & Co. upped their price objective on Caterpillar from $475.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. Jefferies Financial Group restated a “buy” rating and set a $500.00 price objective on shares of Caterpillar in a research note on Friday, August 29th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a research note on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Caterpillar presently has a consensus rating of “Moderate Buy” and a consensus target price of $466.53.

Insider Activity

In other news, insider Jason Kaiser sold 2,161 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider directly owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction dated 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 transaction, the director directly owned 6,917 shares in the company, valued at $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,819 shares of company stock valued at $16,885,492. Company insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 0.8%

Shares of NYSE:CAT opened at $480.99 on Thursday. The business’s 50-day moving average is $434.48 and its 200 day moving average is $376.35. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The firm has a market capitalization of $225.33 billion, a P/E ratio of 24.47, a P/E/G ratio of 2.90 and a beta of 1.46. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $485.34.

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

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.