Caterpillar Inc. $CAT Shares Sold by Bogart Wealth LLC

Key Points

• Bogart Wealth LLC significantly reduced its stake in Caterpillar Inc. by 93.3%, selling 27,291 shares and now holding only 1,959 shares worth $760,000.
• Institutional investors collectively hold 70.98% of Caterpillar's stock, with notable increases in holdings from firms like Valeo Financial Advisors LLC and Pacer Advisors Inc.
• Wall Street analysts have increased their target prices for Caterpillar, with Bank of America now setting a target of $594.00 and a consensus rating of "Moderate Buy."

Bogart Wealth LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 93.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,959 shares of the industrial products company's stock after selling 27,291 shares during the period. Bogart Wealth LLC's holdings in Caterpillar were worth $760,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valeo Financial Advisors LLC boosted its position in shares of Caterpillar by 36,842.1% during the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company's stock worth $2,833,836,000 after buying an additional 7,279,991 shares during the period. Pacer Advisors Inc. raised its stake in Caterpillar by 2,723.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock valued at $466,430,000 after acquiring an additional 1,364,183 shares in the last quarter. Nuveen LLC acquired a new position in Caterpillar during the 1st quarter worth $391,788,000. Assenagon Asset Management S.A. grew its stake in shares of Caterpillar by 546.6% in the second quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company's stock worth $327,297,000 after purchasing an additional 712,711 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Caterpillar by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company's stock valued at $1,064,951,000 after purchasing an additional 268,300 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CAT shares. Sanford C. Bernstein boosted their target price on Caterpillar from $447.00 to $502.00 and gave the stock a "market perform" rating in a report on Tuesday, October 14th. DA Davidson raised their target price on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Bank of America boosted their price target on shares of Caterpillar from $517.00 to $594.00 and gave the stock a "buy" rating in a research report on Wednesday, October 15th. Barclays raised their price objective on shares of Caterpillar from $425.00 to $485.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, UBS Group boosted their target price on shares of Caterpillar from $450.00 to $506.00 and gave the stock a "neutral" rating in a report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $515.40.

Insiders Place Their Bets

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of the company's stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $505.29, for a total value of $8,673,808.14. Following the transaction, the chairman owned 448,173 shares in the company, valued at $226,457,335.17. This represents a 3.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 2,324 shares of the firm'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 sale, the director owned 6,917 shares of the company's stock, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,985 shares of company stock worth $25,559,300. 0.33% of the stock is currently owned by company insiders.

Caterpillar Price Performance

CAT stock opened at $531.80 on Tuesday. The firm has a 50-day moving average of $455.85 and a two-hundred day moving average of $393.23. The firm has a market capitalization of $249.13 billion, a PE ratio of 27.05, a P/E/G ratio of 3.00 and a beta of 1.46. 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 one year low of $267.30 and a one year high of $544.99.

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

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar's dividend payout ratio is currently 30.72%.

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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