Caterpillar Inc. $CAT Shares Purchased by MBL Wealth LLC

MBL Wealth LLC increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 4.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,071 shares of the industrial products company’s stock after purchasing an additional 92 shares during the period. MBL Wealth LLC’s holdings in Caterpillar were worth $804,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Realta Investment Advisors boosted its holdings in Caterpillar by 2.6% in the second quarter. Realta Investment Advisors now owns 2,728 shares of the industrial products company’s stock worth $1,059,000 after acquiring an additional 70 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its stake in Caterpillar by 4.9% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 15,298 shares of the industrial products company’s stock worth $5,939,000 after purchasing an additional 713 shares in the last quarter. Ergawealth Advisors Inc. purchased a new stake in Caterpillar during the 2nd quarter worth approximately $455,000. Financial Insights Inc. purchased a new position in shares of Caterpillar in the second quarter worth $200,000. Finally, Accel Wealth Management lifted its stake in shares of Caterpillar by 16.8% during the second quarter. Accel Wealth Management now owns 1,331 shares of the industrial products company’s stock worth $517,000 after buying an additional 191 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Price Performance

NYSE:CAT opened at $498.48 on Friday. 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 company has a 50 day moving average price of $436.99 and a 200-day moving average price of $378.76. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $504.48. The firm has a market cap of $233.53 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 3.03 and a beta of 1.46.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $16.14 billion. During the same period last year, the company posted $5.99 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. Equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Bank of America raised their target price on Caterpillar from $495.00 to $517.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Barclays lifted their target price on Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Caterpillar in a report on Saturday, September 27th. 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, Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday. Two 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $466.53.

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. This represents a 3.44% 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 in the last 90 days. 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.