Envestnet Portfolio Solutions Inc. Boosts Position in Caterpillar Inc. $CAT

Key Points

• Envestnet Portfolio Solutions increased its Caterpillar position by 32.9% in the second quarter, bringing its holdings to 12,230 shares valued at approximately $13.0 million. Institutional investors collectively own 70.98% of CAT.
• Caterpillar reported strong quarterly results, with EPS of $8.17 versus the $6.22 analyst estimate and revenue of $20.54 billion, up 23.7% year over year.
• Analysts maintain a generally positive outlook, with CAT receiving a consensus “Moderate Buy” rating and an average price target of $994.17. However, CEO Joseph Creed sold 32,401 shares, reducing his direct ownership by 48.39%.

Envestnet Portfolio Solutions Inc. increased its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 32.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,230 shares of the industrial products company's stock after purchasing an additional 3,025 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Caterpillar were worth $13,024,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Lam Group Inc. acquired a new position in shares of Caterpillar in the 1st quarter worth approximately $26,000. Decker Retirement Planning Inc. increased its holdings in Caterpillar by 440.0% in the 2nd quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 22 shares during the last quarter. Cornerstone Financial Management LLC purchased a new stake in Caterpillar in the fourth quarter valued at approximately $32,000. Matrix Trust Co boosted its position in shares of Caterpillar by 93.8% during the second quarter. Matrix Trust Co now owns 31 shares of the industrial products company's stock worth $33,000 after buying an additional 15 shares during the period. Finally, Monetary Solutions Ltd acquired a new stake in shares of Caterpillar in the fourth quarter valued at $35,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Up 0.5%

CAT stock opened at $812.11 on Thursday. The company's 50 day moving average price is $830.86 and its 200 day moving average price is $844.06. The firm has a market capitalization of $373.30 billion, a price-to-earnings ratio of 34.94, a PEG ratio of 1.40 and a beta of 1.60. Caterpillar Inc. has a fifty-two week low of $459.58 and a fifty-two week high of $1,073.46. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 1.37.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.22 by $1.95. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The company had revenue of $20.54 billion during the quarter, compared to the consensus estimate of $19.34 billion. During the same quarter in the previous year, the firm earned $4.72 earnings per share. The firm's quarterly revenue was up 23.7% on a year-over-year basis. On average, equities research analysts anticipate that Caterpillar Inc. will post 27.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other Caterpillar news, CEO Joseph E. Creed sold 32,401 shares of the firm's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $808.98, for a total value of $26,211,760.98. Following the sale, the chief executive officer directly owned 34,555 shares in the company, valued at $27,954,303.90. This trade represents a 48.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on CAT. Wells Fargo & Company increased their target price on Caterpillar from $1,050.00 to $1,155.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 23rd. DA Davidson lifted their target price on Caterpillar from $845.00 to $882.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. Weiss Ratings raised shares of Caterpillar from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 19th. Royal Bank Of Canada raised their price objective on shares of Caterpillar from $877.00 to $897.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 5th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $1,118.00 target price on shares of Caterpillar in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $994.17.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction, mining, and industrial equipment. The company's products include excavators, dozers, wheel loaders, motor graders, articulated trucks, and off-highway trucks, as well as related attachments and work tools. Caterpillar also supplies replacement parts, equipment services, technology solutions, and rental support through its dealer network.

The company serves customers in construction, mining, quarrying, energy, transportation, forestry, agriculture, and government-related industries.

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