Caterpillar Inc. $CAT Shares Sold by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio has reduced its stake in Caterpillar Inc. by 5.2%, holding 193,894 shares worth approximately $75.27 million after selling 10,546 shares.
• Wall Street analysts are mostly optimistic about Caterpillar, with a consensus rating of "Moderate Buy" and an average price target of $464.33, following various upgrades from multiple brokerages.
• Insiders, including Director Susan C. Schwab and Chairman Donald J. Umpleby III, sold 38,819 shares totaling $16.88 million in the last quarter, contributing to a significant decrease in their ownership percentages.

Public Employees Retirement System of Ohio lowered its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 5.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,894 shares of the industrial products company's stock after selling 10,546 shares during the period. Public Employees Retirement System of Ohio's holdings in Caterpillar were worth $75,272,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. GSB Wealth Management LLC raised its position in Caterpillar by 1.2% in the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company's stock valued at $832,000 after purchasing an additional 26 shares during the period. Vanguard Capital Wealth Advisors lifted its position in shares of Caterpillar by 0.8% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company's stock worth $1,388,000 after buying an additional 27 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Caterpillar by 2.4% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company's stock worth $472,000 after purchasing an additional 29 shares during the last quarter. Allen Wealth Management LLC grew its stake in Caterpillar by 0.8% during the 1st quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company's stock worth $1,322,000 after buying an additional 30 shares during the last quarter. Finally, Warwick Investment Management Inc. boosted its stake in Caterpillar by 2.6% during the 1st quarter. Warwick Investment Management Inc. now owns 1,167 shares of the industrial products company's stock worth $385,000 after purchasing an additional 30 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CAT. Oppenheimer dropped their price target on Caterpillar from $493.00 to $480.00 and set an "outperform" rating on the stock in a research report on Friday, August 29th. Bank of America boosted their price objective on shares of Caterpillar from $495.00 to $517.00 and gave the company a "buy" rating in a research note on Monday. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $500.00 price target on shares of Caterpillar in a report on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $464.33.

Insider Activity

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction 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 transaction, the director owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the company's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $462.65, for a total value of $7,941,849.90. Following the sale, the chairman owned 465,339 shares of the company's stock, valued at approximately $215,289,088.35. The trade was a 3.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,819 shares of company stock valued at $16,885,492 over the last quarter. Company insiders own 0.33% of the company's stock.

Caterpillar Stock Performance

CAT opened at $471.77 on Wednesday. The stock's 50 day simple moving average is $427.87 and its 200 day simple moving average is $371.09. The stock has a market cap of $221.02 billion, a P/E ratio of 24.00, a P/E/G ratio of 2.87 and a beta of 1.41. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $485.34. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (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 business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the previous year, the firm posted $5.99 EPS. The business's revenue was down .7% on a year-over-year basis. As a group, equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

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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