Caterpillar Inc. $CAT Shares Sold by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC reduced its stake in Caterpillar Inc. by 6.1%, owning 41,441 shares worth approximately $16.08 million after selling 2,674 shares in the second quarter.
• Several institutional investors, including Compass Financial Services Inc., dramatically increased their positions in Caterpillar, with Compass raising its holdings by 49.2% in the first quarter.
• Analysts have issued optimistic ratings for Caterpillar, with Oppenheimer and Robert W. Baird setting new price targets of $513.00 and $540.00, respectively.

HB Wealth Management LLC lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,441 shares of the industrial products company's stock after selling 2,674 shares during the period. HB Wealth Management LLC's holdings in Caterpillar were worth $16,088,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CAT. Compass Financial Services Inc raised 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 acquiring an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC acquired a new position in Caterpillar during the second quarter worth approximately $32,000. Curat Global LLC acquired a new position in Caterpillar during the first quarter worth approximately $33,000. Redmont Wealth Advisors LLC acquired a new position in Caterpillar during the first quarter worth approximately $33,000. Finally, Fiduciary Wealth Partners LLC acquired a new position in Caterpillar during the first quarter worth approximately $45,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Insiders Place Their Bets

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CAT has been the topic of several research analyst reports. Oppenheimer lifted their price target on Caterpillar from $480.00 to $513.00 and gave the stock an "outperform" rating in a research report on Monday. Robert W. Baird lifted their price target on Caterpillar from $495.00 to $540.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 17th. Jefferies Financial Group reaffirmed a "buy" rating and set a $500.00 price target on shares of Caterpillar in a research report on Friday, August 29th. DA Davidson lifted their price target on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. boosted 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. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $466.53.

Caterpillar Stock Up 1.3%

CAT opened at $471.68 on Tuesday. The business's fifty day moving average is $432.21 and its two-hundred day moving average is $374.91. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The company has a market cap of $220.97 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 2.83 and a beta of 1.41. 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 posted its earnings results 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). The firm had revenue of $16.57 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.99 earnings per share. Analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

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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