Farther Finance Advisors LLC Acquires 999 Shares of Caterpillar Inc. $CAT

Key Points

• Farther Finance Advisors LLC increased its stake in Caterpillar Inc. by 8.4%, owning a total of 12,842 shares valued at approximately $4.98 million.
• Caterpillar reported a quarterly earnings per share (EPS) of $4.72, missing estimates by $0.16, with total revenue of $16.57 billion for the quarter.
• Insider sales included transactions by Jason Kaiser and Donald J. Umpleby III, collectively selling over 19,000 shares for approximately $8.9 million.

Farther Finance Advisors LLC lifted its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 8.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,842 shares of the industrial products company's stock after purchasing an additional 999 shares during the quarter. Farther Finance Advisors LLC's holdings in Caterpillar were worth $4,985,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CAT. GAMMA Investing LLC boosted its position in shares of Caterpillar by 43,447.3% in the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock worth $1,230,239,000 after purchasing an additional 3,721,693 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Caterpillar by 2,723.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock worth $466,430,000 after purchasing an additional 1,364,183 shares in the last quarter. Nuveen LLC bought a new stake in shares of Caterpillar in the 1st quarter worth approximately $391,788,000. Assenagon Asset Management S.A. boosted its position in shares of Caterpillar by 546.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company's stock worth $327,297,000 after purchasing an additional 712,711 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Caterpillar in the 4th quarter worth approximately $108,958,000. 70.98% of the stock is owned by institutional investors.

Caterpillar Price Performance

Caterpillar stock traded up $5.43 during mid-day trading on Monday, hitting $471.97. The stock had a trading volume of 3,179,376 shares, compared to its average volume of 2,760,849. The firm has a market capitalization of $221.11 billion, a P/E ratio of 24.01, a P/E/G 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 $369.54. Caterpillar Inc. has a one year low of $267.30 and a one year high of $473.24.

Caterpillar (NYSE:CAT - Get Free Report) last issued its 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 during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company's quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $5.99 EPS. On average, sell-side analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Caterpillar

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value 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. This trade represents a 3.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,653 shares of company stock valued at $8,943,642 in the last 90 days. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

CAT has been the subject of a number of recent analyst reports. Bank of America boosted their price objective on shares of Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Oppenheimer decreased their price objective on shares of Caterpillar from $493.00 to $480.00 and set an "outperform" rating for the company in a report on Friday, August 29th. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price for the company in a research note on Wednesday, July 9th. Finally, Robert W. Baird boosted their target price on shares of Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $462.87.

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.