Caterpillar Inc. $CAT Shares Sold by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue reduced its stake in Caterpillar Inc. (NYSE:CAT) by 5.7%, owning 52,818 shares valued at approximately $20.5 million after selling 3,190 shares in the second quarter.
• Despite a quarterly EPS of $4.72, which missed analysts' expectations, Caterpillar's revenue was $16.57 billion, surpassing estimates of $16.14 billion.
• Several institutional investors increased their holdings in Caterpillar, with Wellington Management Group LLP expanding its position by 72.2%, now owning 88,936 shares valued at $32.26 million.

State of Alaska Department of Revenue cut its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 5.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,818 shares of the industrial products company's stock after selling 3,190 shares during the period. State of Alaska Department of Revenue's holdings in Caterpillar were worth $20,504,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CAT. Pacific Point Advisors LLC purchased a new position in Caterpillar during the fourth quarter worth about $579,000. Brighton Jones LLC increased its position in shares of Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after acquiring an additional 2,519 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Caterpillar by 72.2% during the fourth quarter. Wellington Management Group LLP now owns 88,936 shares of the industrial products company's stock valued at $32,262,000 after acquiring an additional 37,282 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Caterpillar by 25.9% during the first quarter. Versant Capital Management Inc now owns 1,455 shares of the industrial products company's stock valued at $480,000 after acquiring an additional 299 shares during the last quarter. Finally, Central Pacific Bank Trust Division grew its holdings in shares of Caterpillar by 12.5% in the first quarter. Central Pacific Bank Trust Division now owns 1,179 shares of the industrial products company's stock valued at $389,000 after purchasing an additional 131 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Up 0.5%

CAT opened at $466.06 on Friday. The firm has a 50 day moving average price of $430.98 and a 200 day moving average price of $373.47. The company has a market cap 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. 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 quick ratio of 0.81 and a current ratio of 1.34.

Caterpillar (NYSE:CAT - Get Free Report) last posted 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). The business 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 firm's revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the company posted $5.99 EPS. Sell-side analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the completion of the sale, the chairman directly owned 465,339 shares of the company's stock, valued at $215,289,088.35. This trade represents a 3.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,819 shares of company stock valued at $16,885,492 over the last 90 days. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CAT has been the subject of a number of research reports. Robert W. Baird lifted 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. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target for the company in a research note on Wednesday, July 9th. Citigroup restated a "buy" rating on shares of Caterpillar in a research report on Tuesday. Barclays upped their price target on shares of Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $500.00 price objective on shares of Caterpillar in a research note on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Caterpillar has a consensus rating of "Moderate Buy" and an average price target of $464.33.

Caterpillar 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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