Fort Washington Investment Advisors Inc. OH Sells 2,741 Shares of Caterpillar Inc. $CAT

Key Points

• Fort Washington Investment Advisors Inc. OH reduced its stake in Caterpillar Inc. by 1.6%, selling 2,741 shares, resulting in ownership of 163,677 shares valued at $63.54 million.
• Institutional investors now own 70.98% of Caterpillar's stock, indicating strong interest from major financial entities.
• Caterpillar's latest quarterly earnings showed $4.72 EPS, missing estimates by $0.16, with revenues of $16.57 billion, down 0.7% year-over-year.

Fort Washington Investment Advisors Inc. OH decreased its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 163,677 shares of the industrial products company's stock after selling 2,741 shares during the period. Fort Washington Investment Advisors Inc. OH's holdings in Caterpillar were worth $63,541,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Caterpillar by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company's stock valued at $1,386,626,000 after acquiring an additional 264,054 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings 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 worth $1,089,798,000 after buying an additional 15,347 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Caterpillar by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company's stock worth $1,064,951,000 after buying an additional 268,300 shares during the last quarter. Invesco Ltd. boosted its holdings in Caterpillar by 5.0% during the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company's stock worth $1,036,211,000 after buying an additional 150,533 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Caterpillar by 0.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,416,464 shares of the industrial products company's stock worth $467,150,000 after buying an additional 5,559 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Caterpillar Stock Performance

CAT opened at $466.06 on Friday. 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 Inc. has a 52-week low of $267.30 and a 52-week high of $485.34. The firm has a market cap of $218.34 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 2.83 and a beta of 1.41. The business's fifty day moving average is $430.98 and its 200-day moving average is $373.71.

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 for the quarter, missing the consensus estimate of $4.88 by ($0.16). The business had revenue of $16.57 billion for 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%.Caterpillar's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.99 earnings per share. Sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Transactions at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director owned 6,917 shares of the company's stock, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the firm's stock in a transaction that occurred 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 sale, the chairman directly owned 482,505 shares of the company's stock, valued at $199,211,839.35. This represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,819 shares of company stock worth $16,885,492 over the last ninety days. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

CAT has been the topic of a number of recent analyst reports. Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Barclays boosted their price target on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Citigroup reissued a "buy" rating on shares of Caterpillar in a report on Tuesday. Jefferies Financial Group reissued a "buy" rating and set a $500.00 target price on shares of Caterpillar in a report on Friday, August 29th. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $464.33.

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.

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