Exchange Traded Concepts LLC Has $14.87 Million Stock Position in Caterpillar Inc. $CAT

Key Points

• Exchange Traded Concepts LLC reduced its holdings in Caterpillar by 3.6% during Q2, currently owning 38,296 shares valued at approximately $14.87 million.
• Insider trading shows significant sales, with Director Susan C. Schwab and Chairman Donald J. Umpleby III selling 2,324 and 17,168 shares respectively.
• Caterpillar's stock has received positive analyst ratings, with Jefferies and JPMorgan increasing target prices to $500.00 and $520.00, indicating strong investor confidence.

Exchange Traded Concepts LLC cut its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 3.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,296 shares of the industrial products company's stock after selling 1,420 shares during the period. Exchange Traded Concepts LLC's holdings in Caterpillar were worth $14,867,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CAT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Caterpillar by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock worth $26,037,000 after acquiring an additional 7,125 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in Caterpillar in the 1st quarter valued at $427,000. Charles Schwab Investment Management Inc. raised its holdings in Caterpillar by 0.5% in the 1st 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 buying an additional 15,347 shares during the period. Heartwood Wealth Advisors LLC boosted its holdings in Caterpillar by 4.2% in the second quarter. Heartwood Wealth Advisors LLC now owns 2,975 shares of the industrial products company's stock valued at $1,155,000 after purchasing an additional 121 shares in the last quarter. Finally, Fiduciary Financial Group LLC grew its holdings in Caterpillar by 81.2% in the second quarter. Fiduciary Financial Group LLC now owns 1,913 shares of the industrial products company's stock valued at $748,000 after purchasing an additional 857 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Insider Activity

In related news, insider Jason Kaiser sold 2,161 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider directly owned 8,632 shares of the company's stock, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction 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 sale, the director owned 6,917 shares of the company's stock, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,653 shares of company stock worth $8,943,642. Corporate insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CAT shares. Robert W. Baird upped their price target on Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research report on Wednesday. Barclays increased their price objective on Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective for the company in a research note on Wednesday, July 9th. Bank of America boosted their price objective on shares of Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, DA Davidson increased their price target on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of "Moderate Buy" and a consensus price target of $460.20.

Caterpillar Stock Down 0.1%

CAT stock traded down $0.34 during trading on Friday, reaching $466.62. 5,066,694 shares of the stock were exchanged, compared to its average volume of 2,369,601. The firm has a market cap of $218.60 billion, a P/E ratio of 23.73, a price-to-earnings-growth ratio of 2.84 and a beta of 1.41. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The firm's 50 day moving average is $425.21 and its 200 day moving average is $369.34. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $472.12.

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

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.