Caterpillar Inc. $CAT Shares Sold by Eagle Global Advisors LLC

Key Points

• Eagle Global Advisors LLC has reduced its stake in Caterpillar Inc. by 2.8%, owning 31,127 shares worth $12,084,000 after selling 895 shares in the second quarter.
• Caterpillar's stock opened at $466.06 and has a market capitalization of $218.34 billion, with analysts expecting an EPS of 19.86 for the current fiscal year.
• Institutional investors hold 70.98% of Caterpillar's stock, demonstrating significant confidence in the company's performance amidst recent insider sales and adjustments by other large investors.

Eagle Global Advisors LLC lowered its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,127 shares of the industrial products company's stock after selling 895 shares during the period. Eagle Global Advisors LLC's holdings in Caterpillar were worth $12,084,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CAT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Caterpillar by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock worth $26,037,000 after buying an additional 7,125 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in Caterpillar in the 1st quarter worth about $427,000. Charles Schwab Investment Management Inc. boosted its stake in Caterpillar by 0.5% in the 1st 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 buying an additional 15,347 shares during the last quarter. Heartwood Wealth Advisors LLC boosted its stake in Caterpillar by 4.2% in the 2nd quarter. Heartwood Wealth Advisors LLC now owns 2,975 shares of the industrial products company's stock worth $1,155,000 after buying an additional 121 shares during the last quarter. Finally, Fiduciary Financial Group LLC boosted its stake in Caterpillar by 81.2% in the 2nd quarter. Fiduciary Financial Group LLC now owns 1,913 shares of the industrial products company's stock worth $748,000 after buying an additional 857 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Stock Performance

Caterpillar stock 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 $373.47. The firm has a market capitalization of $218.34 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 2.82 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 Inc. has a one year low of $267.30 and a one year high of $485.34.

Caterpillar (NYSE:CAT - Get Free Report) last released 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 company had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business's revenue was down .7% on a year-over-year basis. During the same period last year, the firm posted $5.99 earnings per share. As a group, sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,166 shares of Caterpillar stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the sale, the chairman directly owned 465,339 shares in the company, valued at $215,289,088.35. The trade was a 3.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on Friday, August 15th. The stock was 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. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,819 shares of company stock worth $16,885,492 in the last three months. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CAT. Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a report on Wednesday, July 9th. Jefferies Financial Group restated a "buy" rating and issued a $500.00 price objective on shares of Caterpillar in a report on Friday, August 29th. Bank of America raised their price objective on Caterpillar from $495.00 to $517.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Finally, Oppenheimer cut their price objective on Caterpillar from $493.00 to $480.00 and set an "outperform" rating on the stock in a report on Friday, August 29th. Two investment 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. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of "Moderate Buy" and an average price target of $464.33.

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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