Caterpillar Inc. $CAT Shares Sold by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. reduced its stake in Caterpillar Inc. by 11%, holding 109,048 shares valued at $42.33 million after selling 13,503 shares in the second quarter.
• In August, insider Jason Kaiser sold 2,161 shares, representing a 20.02% decrease in his position, while director Susan C. Schwab sold 2,324 shares, leading to a 25.15% decrease in her holdings.
• Caterpillar's stock has reached a 52-week high of $504.48, with analysts recently predicting a strong outlook and raising price targets above $500.

QRG Capital Management Inc. cut its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 11.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,048 shares of the industrial products company's stock after selling 13,503 shares during the quarter. QRG Capital Management Inc.'s holdings in Caterpillar were worth $42,334,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CAT. Family Legacy Financial Solutions LLC purchased a new stake in shares of Caterpillar during the second quarter worth approximately $32,000. Compass Financial Services Inc grew its holdings in shares of Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock worth $31,000 after buying an additional 31 shares in the last quarter. Curat Global LLC acquired a new stake in shares of Caterpillar in the first quarter valued at about $33,000. Redmont Wealth Advisors LLC purchased a new position in shares of Caterpillar in the first quarter worth about $33,000. Finally, Maseco LLP acquired a new position in Caterpillar during the second quarter worth about $45,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Transactions at Caterpillar

In related news, insider Jason Kaiser sold 2,161 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on Friday, August 15th. The shares were 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 trade represents a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is currently owned by insiders.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $498.48 on Friday. The firm has a market cap of $233.53 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 2.98 and a beta of 1.46. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $504.48. The business's fifty day simple moving average is $436.99 and its 200-day simple moving average is $378.48.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data 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 period in the previous year, the business posted $5.99 earnings per share. The firm's revenue for the quarter was down .7% compared to the same quarter last year. Equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Robert W. Baird increased their price objective on shares of Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a report on Wednesday, September 17th. JPMorgan Chase & Co. increased their price target on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Weiss Ratings reissued a "buy (b-)" rating on shares of Caterpillar in a research note on Saturday, September 27th. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price for the company in a research note on Wednesday, July 9th. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $466.53.

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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