Essex Financial Services Inc. Has $5.13 Million Stock Holdings in Caterpillar Inc. $CAT

Key Points

• Essex Financial Services Inc. increased its stake in Caterpillar Inc. by 6.3%, now holding 13,218 shares valued at approximately $5.13 million.
• Caterpillar's recent earnings report indicated EPS of $4.72, missing estimates, but revenue was $16.57 billion, surpassing analyst expectations.
• Insider trading activity showed Chairman Donald J. Umpleby III sold over 17,000 shares for approximately $7.1 million, reflecting a 3.44% decrease in his position.

Essex Financial Services Inc. lifted its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 6.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,218 shares of the industrial products company's stock after purchasing an additional 783 shares during the period. Essex Financial Services Inc.'s holdings in Caterpillar were worth $5,131,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. GSB Wealth Management LLC raised its position in Caterpillar by 1.2% during the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company's stock valued at $832,000 after buying an additional 26 shares during the period. Verum Partners LLC raised its position in Caterpillar by 2.5% during the second quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company's stock valued at $411,000 after buying an additional 26 shares during the period. Vanguard Capital Wealth Advisors raised its position in Caterpillar by 0.8% during the second quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company's stock valued at $1,388,000 after buying an additional 27 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its position in Caterpillar by 2.4% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company's stock valued at $472,000 after buying an additional 29 shares during the period. Finally, McAdam LLC grew its stake in Caterpillar by 1.6% in the second quarter. McAdam LLC now owns 1,872 shares of the industrial products company's stock valued at $727,000 after purchasing an additional 29 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Performance

CAT opened at $470.50 on Thursday. The company has a market cap of $220.42 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 2.86 and a beta of 1.41. The stock has a 50-day moving average of $429.02 and a 200-day moving average of $371.77. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week 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 quarterly earnings data 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). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same period in the prior year, the firm posted $5.99 EPS. Caterpillar's revenue for the quarter was down .7% on a year-over-year basis. As a group, equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on CAT shares. Robert W. Baird boosted their target price on Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Oppenheimer lowered their target price on Caterpillar from $493.00 to $480.00 and set an "outperform" rating on the stock in a research note on Friday, August 29th. JPMorgan Chase & Co. boosted their target price on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. DA Davidson boosted their target price on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Bank of America boosted their target price on Caterpillar from $495.00 to $517.00 and gave the company a "buy" rating in a research note on Monday. Two investment 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 stock. According to MarketBeat, Caterpillar has an average rating of "Moderate Buy" and a consensus target price of $464.33.

Insider Buying and Selling

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was 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. The trade was a 3.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the business'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 transaction, the director directly owned 6,917 shares of the company's stock, valued at $2,835,970. This represents a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,819 shares of company stock valued at $16,885,492. Insiders own 0.33% of the company's stock.

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.

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.