Focus Partners Wealth Raises Position in Caterpillar Inc. $CAT

Key Points

• Focus Partners Wealth increased its stake in Caterpillar Inc. by 10.3% during the first quarter, now owning 291,012 shares valued at approximately $95.98 million.
• Institutional investors collectively hold 70.98% of Caterpillar's stock, with several firms like Victrix and Wealth Enhancement increasing their positions.
• Recent analyst ratings show a mix of optimism, with target prices ranging from $357.00 to $520.00, indicating a generally positive outlook for Caterpillar's performance.

Focus Partners Wealth boosted its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 10.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 291,012 shares of the industrial products company's stock after buying an additional 27,166 shares during the period. Focus Partners Wealth owned 0.06% of Caterpillar worth $95,976,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Victrix Investment Advisors bought a new position in shares of Caterpillar during the fourth quarter valued at approximately $2,090,000. Charles Schwab Investment Management Inc. increased its stake in shares of 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 purchasing an additional 15,347 shares in the last quarter. Pacific Point Advisors LLC bought a new position in shares of Caterpillar during the fourth quarter valued at approximately $579,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Caterpillar by 18.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock valued at $63,202,000 after purchasing an additional 30,070 shares in the last quarter. Finally, Crestwood Advisors Group LLC increased its stake in shares of Caterpillar by 3.4% during the first quarter. Crestwood Advisors Group LLC now owns 22,689 shares of the industrial products company's stock valued at $7,483,000 after purchasing an additional 743 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Insiders Place Their Bets

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the company's 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 in the company, valued at $199,211,839.35. This represents a 3.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Susan C. Schwab sold 2,324 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This 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 21,653 shares of company stock valued at $8,943,642. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and raised their target price for the company from $272.00 to $357.00 in a research note on Friday, May 16th. Evercore ISI raised shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price target for the company in a research report on Tuesday, August 19th. Robert W. Baird reduced their price target on shares of Caterpillar from $500.00 to $495.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. Oppenheimer reduced their price target on shares of Caterpillar from $493.00 to $480.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $457.20.

Caterpillar Trading Down 1.1%

NYSE:CAT opened at $417.96 on Wednesday. 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 $441.15. The company has a market cap of $195.81 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 2.57 and a beta of 1.41. The company has a 50 day simple moving average of $418.27 and a two-hundred day simple moving average of $363.50.

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

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