CGN Advisors LLC Lowers Stake in Caterpillar Inc. $CAT

Key Points

• CGN Advisors LLC reduced its stake in Caterpillar Inc. by 15.1%, leaving it with 5,594 shares valued at approximately $2.17 million as of the latest SEC filing.
• Insiders, including Chairman Donald J. Umpleby III, sold a total of 21,653 shares valued at nearly $8.94 million over the last quarter, indicating a shift in ownership dynamics.
• Recent analyst ratings for Caterpillar indicate a consensus of "Moderate Buy" with a target price averaging around $462.87, highlighting positive market sentiment following their latest earnings report.

CGN Advisors LLC reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 15.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,594 shares of the industrial products company's stock after selling 994 shares during the period. CGN Advisors LLC's holdings in Caterpillar were worth $2,172,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Family Legacy Financial Solutions LLC purchased a new position in Caterpillar during the 2nd quarter worth $32,000. Compass Financial Services Inc boosted its holdings in shares of Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 31 shares in the last quarter. Mattson Financial Services LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at about $39,000. Curat Global LLC purchased a new stake in shares of Caterpillar in the first quarter valued at about $33,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Caterpillar in the first quarter valued at about $33,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the transaction, the chairman owned 482,505 shares of the company's stock, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The sale 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 the company's stock in a transaction that occurred 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 transaction, the director directly 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. Over the last quarter, insiders sold 21,653 shares of company stock valued at $8,943,642. Insiders own 0.33% of the company's stock.

Caterpillar Stock Performance

NYSE:CAT opened at $471.97 on Tuesday. The firm has a 50 day simple moving average of $426.53 and a 200-day simple moving average of $370.38. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The firm has a market cap of $221.11 billion, a PE ratio of 24.01, a P/E/G ratio of 2.84 and a beta of 1.41. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $473.24.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CAT shares. Jefferies Financial Group reaffirmed a "buy" rating and issued a $500.00 target price on shares of Caterpillar in a report on Friday, August 29th. Melius raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. JPMorgan Chase & Co. lifted their target price on shares of Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Oppenheimer decreased their price objective on shares of Caterpillar from $493.00 to $480.00 and set an "outperform" rating on the stock in a report on Friday, August 29th. Finally, Citigroup boosted their price objective on shares of Caterpillar from $500.00 to $540.00 in a report on Monday. Two 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 company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $462.87.

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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