Capital Asset Advisory Services LLC Sells 3,449 Shares of Caterpillar Inc. $CAT

Key Points

• Capital Asset Advisory Services LLC reduced its stake in Caterpillar Inc. by 25.9%, selling 3,449 shares and retaining a total of 9,871 shares valued at approximately $3.86 million.
• Insider activity included Director Susan C. Schwab selling 2,324 shares for about $952,840, and Chairman Donald J. Umpleby III selling 17,168 shares for approximately $7.09 million.
• Caterpillar's latest earnings report showed a miss in earnings per share at $4.72, compared to analysts' expectations of $4.88, with revenue of $16.57 billion for the quarter, slightly above estimates.

Capital Asset Advisory Services LLC lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 25.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 9,871 shares of the industrial products company's stock after selling 3,449 shares during the period. Capital Asset Advisory Services LLC's holdings in Caterpillar were worth $3,859,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Caterpillar by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock worth $26,037,000 after purchasing an additional 7,125 shares during the period. Victrix Investment Advisors bought a new position in Caterpillar during the fourth quarter worth about $2,090,000. Charles Schwab Investment Management Inc. grew its holdings in Caterpillar by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock worth $1,089,798,000 after purchasing an additional 15,347 shares during the period. Ransom Advisory Ltd bought a new position in Caterpillar during the first quarter worth about $427,000. Finally, Pacific Point Advisors LLC bought a new position in Caterpillar during the fourth quarter worth about $579,000. Institutional investors own 70.98% of the company's stock.

Insider Activity

In other news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on 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 sale, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the sale, the chairman owned 482,505 shares of the company's stock, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,653 shares of company stock worth $8,943,642. Corporate insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CAT. Robert W. Baird reduced their price target on Caterpillar from $500.00 to $495.00 and set an "outperform" rating for the company in a report on Friday, August 29th. Jefferies Financial Group restated a "buy" rating and set a $500.00 price objective on shares of Caterpillar in a report on Friday, August 29th. Bank of America boosted their price objective on Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $457.20.

Caterpillar Stock Down 0.1%

NYSE CAT opened at $431.10 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $441.15. The company has a 50 day moving average of $420.04 and a 200-day moving average of $365.32. The company has a market cap of $201.96 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 2.62 and a beta of 1.41.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results 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). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the previous year, the firm posted $5.99 earnings per share. The firm's quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar 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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