Ascent Group LLC Sells 1,207 Shares of Caterpillar Inc. $CAT

Key Points

• Ascent Group LLC has reduced its stake in Caterpillar Inc. by 27%, selling 1,207 shares and now holding 3,260 shares valued at approximately $1,266,000.
• Several research analysts have reaffirmed a buy rating for Caterpillar stock, with a consensus target price increasing to $466.53 and a notable price boost by JPMorgan from $475 to $520.
• Caterpillar's latest quarterly earnings showed a miss on EPS estimates, reporting $4.72 compared to the expected $4.88, while revenue was higher than anticipated at $16.57 billion.

Ascent Group LLC reduced its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 27.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,260 shares of the industrial products company's stock after selling 1,207 shares during the quarter. Ascent Group LLC's holdings in Caterpillar were worth $1,266,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Compass Financial Services Inc lifted its position in shares of Caterpillar by 49.2% during 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 in the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in Caterpillar during the second quarter valued at about $32,000. Redmont Wealth Advisors LLC bought a new position in Caterpillar during the first quarter worth about $33,000. Fiduciary Wealth Partners LLC purchased a new position in shares of Caterpillar in the first quarter worth about $45,000. Finally, Maseco LLP bought a new stake in shares of Caterpillar in the second quarter valued at approximately $45,000. Institutional investors own 70.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CAT shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Caterpillar in a report on Saturday, September 27th. Citigroup reaffirmed a "buy" rating on shares of Caterpillar in a report on Tuesday, September 23rd. JPMorgan Chase & Co. boosted their price objective on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. 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. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $466.53.

Caterpillar Stock Performance

NYSE:CAT opened at $498.48 on Monday. The stock has a market cap of $233.53 billion, a P/E ratio of 25.35, a PEG ratio of 3.03 and a beta of 1.46. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The business's 50-day moving average price is $436.99 and its two-hundred day moving average price is $379.06. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $504.48.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). The company had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the company posted $5.99 earnings per share. As a group, equities analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Activity

In related news, insider Jason Kaiser sold 2,161 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the firm's 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 sale, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is currently owned by corporate 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.

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