Caterpillar Inc. (NYSE:CAT) Stock Holdings Lessened by WealthTrust Asset Management LLC

WealthTrust Asset Management LLC cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,061 shares of the industrial products company’s stock after selling 120 shares during the quarter. WealthTrust Asset Management LLC’s holdings in Caterpillar were worth $1,020,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Richardson Financial Services Inc. purchased a new stake in shares of Caterpillar in the 4th quarter valued at approximately $27,000. Thompson Investment Management Inc. purchased a new stake in shares of Caterpillar in the first quarter valued at $27,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar in the second quarter worth $28,000. Financial Connections Group Inc. purchased a new position in shares of Caterpillar during the second quarter valued at $28,000. Finally, Fairman Group LLC purchased a new stake in Caterpillar in the 1st quarter worth about $29,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Trading Up 5.2 %

Shares of CAT stock opened at $373.41 on Friday. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01. The company has a market cap of $182.62 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The business’s 50 day moving average is $343.01 and its two-hundred day moving average is $344.54.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The business 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%. Caterpillar’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $5.55 EPS. Equities analysts predict that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar declared that its board has approved a stock repurchase plan on Wednesday, June 12th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Caterpillar

In related news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,668 shares of company stock worth $2,665,760. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CAT shares. Evercore ISI lowered their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Citigroup started coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective on the stock. Barclays lifted their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Bank of America cut their price objective on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Raymond James started coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $336.31.

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.