Consolidated Planning Corp Lowers Holdings in Caterpillar Inc. $CAT

Key Points

• Consolidated Planning Corp cut its holdings in Caterpillar Inc. by 45.6% in Q2, resulting in ownership of 12,859 shares valued at approximately $4.99 million.
• Multiple hedge funds have altered their positions in Caterpillar, with 70.98% of the stock currently owned by institutional investors.
• Caterpillar reported earnings of $4.72 per share for the latest quarter, falling short of the consensus estimate of $4.88, while its revenue rose to $16.57 billion despite a 0.7% decline compared to the previous year.

Consolidated Planning Corp trimmed its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 45.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,859 shares of the industrial products company's stock after selling 10,785 shares during the quarter. Consolidated Planning Corp's holdings in Caterpillar were worth $4,992,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Compass Financial Services Inc raised its position in shares of Caterpillar by 49.2% in 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 bought a new position in shares of Caterpillar in the 2nd quarter worth $32,000. Curat Global LLC bought a new position in shares of Caterpillar in the 1st quarter worth $33,000. Redmont Wealth Advisors LLC bought a new position in shares of Caterpillar in the 1st quarter worth $33,000. Finally, Fiduciary Wealth Partners LLC bought a new position in shares of Caterpillar in the 1st quarter worth $45,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In other news, Director Susan C. Schwab sold 2,324 shares of the company's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director owned 6,917 shares in the company, valued at $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares in the company, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, 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 Up 0.8%

Caterpillar stock opened at $480.99 on Thursday. 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 business's 50-day simple moving average is $434.48 and its two-hundred day simple moving average is $376.35. The company has a market cap of $225.33 billion, a PE ratio of 24.47, a PEG ratio of 2.90 and a beta of 1.46. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $485.34.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate 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 net margin of 14.95% and a return on equity of 48.95%. 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 EPS. Equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CAT. Barclays boosted their price target on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Oppenheimer upped their target price on Caterpillar from $480.00 to $513.00 and gave the company an "outperform" rating in a research report on Monday. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Truist Financial upped their target price on Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, DA Davidson upped their target price on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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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