Ergawealth Advisors Inc. Invests $455,000 in Caterpillar Inc. $CAT

Key Points

• Ergawealth Advisors Inc. has invested approximately $455,000 in Caterpillar Inc. by buying 1,171 shares during the second quarter.
• Several hedge funds have increased their positions in Caterpillar; notable increases include Trivium Point Advisory raising holdings by 132.9% and MIRAE ASSET increasing by 9.9%.
• Insider trading activity included Chairman Donald J. Umpleby III selling 17,168 shares for around $7 million, reducing his stake by 3.44%.

Ergawealth Advisors Inc. bought a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,171 shares of the industrial products company's stock, valued at approximately $455,000.

A number of other hedge funds also recently modified their holdings of the business. Trivium Point Advisory LLC boosted its holdings in Caterpillar by 132.9% in the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company's stock valued at $748,000 after acquiring an additional 1,099 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Caterpillar by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock worth $26,037,000 after buying an additional 7,125 shares during the period. Ransom Advisory Ltd bought a new position in Caterpillar during the first quarter worth $427,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Caterpillar by 11.2% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company's stock valued at $5,557,000 after buying an additional 1,440 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Caterpillar by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock valued at $1,089,798,000 after acquiring an additional 15,347 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Buying and Selling at Caterpillar

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the sale, the chairman directly owned 482,505 shares of the company's stock, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the firm's stock in a transaction 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 transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,819 shares of company stock worth $16,885,492. Insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CAT shares. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Robert W. Baird boosted their price target on Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Jefferies Financial Group reaffirmed a "buy" rating and set a $500.00 price objective on shares of Caterpillar in a research report on Friday, August 29th. DA Davidson boosted their target price on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Barclays raised their price target on shares of Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $466.53.

Caterpillar Stock Performance

NYSE CAT opened at $498.48 on Friday. The company has a market cap of $233.53 billion, a P/E ratio of 25.35, a PEG ratio of 3.03 and a beta of 1.46. The company has a fifty day simple moving average of $436.99 and a 200 day simple moving average of $378.76. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $504.48.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). The business had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm's quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the business posted $5.99 earnings per share. Sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

About Caterpillar

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.