Mittelman Wealth Management Has $1.43 Million Position in Caterpillar Inc. (NYSE:CAT)

Mittelman Wealth Management cut its holdings in Caterpillar Inc. (NYSE:CAT) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,287 shares of the industrial products company’s stock after selling 156 shares during the quarter. Caterpillar comprises approximately 0.9% of Mittelman Wealth Management’s holdings, making the stock its 26th largest position. Mittelman Wealth Management’s holdings in Caterpillar were worth $1,428,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CAT. Richardson Financial Services Inc. acquired a new stake in Caterpillar in the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. acquired a new stake in Caterpillar in the first quarter valued at approximately $27,000. Bbjs Financial Advisors LLC acquired a new stake in Caterpillar in the second quarter valued at approximately $28,000. Financial Connections Group Inc. acquired a new stake in Caterpillar in the second quarter valued at approximately $28,000. Finally, Fairman Group LLC bought a new position in shares of Caterpillar in the first quarter valued at approximately $29,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CAT. Barclays lifted their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. UBS Group lifted their price target on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Raymond James began coverage on shares of Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Bank of America dropped their price target on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Evercore ISI dropped their target price on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $336.31.

Caterpillar Trading Up 0.4 %

Shares of Caterpillar stock opened at $355.13 on Thursday. The firm has a market capitalization of $173.68 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The company’s fifty day moving average price is $342.17 and its two-hundred day moving average price is $344.34. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $382.01.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.46. The firm had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.55 EPS. On average, analysts expect that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar declared that its Board of Directors has initiated a stock buyback program on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 12.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Caterpillar

In other news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the sale, the insider now directly owns 18,515 shares of the company’s stock, valued at $6,480,250. The disclosure for this sale can be found here. Insiders have sold 7,668 shares of company stock valued at $2,665,760 in the last 90 days. 0.33% of the stock is currently owned by company insiders.

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.