Caterpillar Inc. $CAT Position Increased by Kathmere Capital Management LLC

Key Points

• Kathmere Capital Management LLC increased its position in Caterpillar Inc. by 54.6% in Q2, now holding 2,964 shares valued at approximately $1.15 million.
• Analysts have raised their target prices for Caterpillar, with JPMorgan Chase setting a new target of $520.00 and Evercore ISI upgrading to "outperform" with a target of $476.00.
• Caterpillar reported Q2 earnings of $4.72 EPS, missing the consensus estimate of $4.88, while revenue was approximately $16.57 billion, exceeding expectations.

Kathmere Capital Management LLC raised its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 54.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,964 shares of the industrial products company's stock after buying an additional 1,047 shares during the quarter. Kathmere Capital Management LLC's holdings in Caterpillar were worth $1,151,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. GSB Wealth Management LLC lifted its stake in Caterpillar by 1.2% during the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company's stock valued at $832,000 after buying an additional 26 shares in the last quarter. Verum Partners LLC lifted its stake in Caterpillar by 2.5% during the second quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company's stock valued at $411,000 after buying an additional 26 shares in the last quarter. Vanguard Capital Wealth Advisors lifted its stake in Caterpillar by 0.8% during the second quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company's stock valued at $1,388,000 after buying an additional 27 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Caterpillar by 2.4% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company's stock valued at $472,000 after purchasing an additional 29 shares during the period. Finally, McAdam LLC increased its holdings in shares of Caterpillar by 1.6% in the 2nd quarter. McAdam LLC now owns 1,872 shares of the industrial products company's stock valued at $727,000 after purchasing an additional 29 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. DA Davidson upped their target price on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Evercore ISI upgraded Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price on the stock in a report on Tuesday, August 19th. Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. JPMorgan Chase & Co. upped their target price on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Finally, Citigroup reiterated a "buy" rating on shares of Caterpillar in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Caterpillar has a consensus rating of "Moderate Buy" and an average price target of $464.33.

Caterpillar Trading Up 0.5%

NYSE:CAT opened at $466.06 on Friday. The stock's 50 day moving average price is $430.98 and its 200 day moving average price is $373.71. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $485.34. The company has a market capitalization of $218.34 billion, a P/E ratio of 23.71, a P/E/G ratio of 2.83 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 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 during the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the prior year, the company posted $5.99 EPS. The company's quarterly revenue was down .7% on a year-over-year basis. On average, research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director owned 6,917 shares of the company's stock, valued at $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the sale, the insider directly owned 8,632 shares of the company's stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,819 shares of company stock valued at $16,885,492 over 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.

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