Geneos Wealth Management Inc. Purchases 712 Shares of Caterpillar Inc. $CAT

Key Points

• Geneos Wealth Management Inc. increased its stake in Caterpillar Inc. by 4.8% during the first quarter, bringing its total holdings to 15,684 shares valued at approximately $5.17 million.
• Analysts are optimistic about Caterpillar, with several firms raising their price targets; JPMorgan Chase increased its target from $475 to $520, while Evercore ISI upgraded its rating to "outperform."
• Despite reporting quarterly earnings of $4.72 per share—below estimates—Caterpillar's revenue for the period was $16.57 billion, exceeding expectations, although it represented a year-over-year decline.

Geneos Wealth Management Inc. raised its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 4.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,684 shares of the industrial products company's stock after buying an additional 712 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Caterpillar were worth $5,172,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new stake in shares of Caterpillar during the 4th quarter worth approximately $33,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth approximately $36,000. Mattson Financial Services LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth approximately $39,000. Curat Global LLC acquired a new stake in shares of Caterpillar during the 1st quarter worth approximately $33,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Caterpillar during the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Analyst Upgrades and Downgrades

CAT has been the topic of several recent research reports. DA Davidson lifted their price objective on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Oppenheimer cut their target price on Caterpillar from $493.00 to $480.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. Robert W. Baird cut their target price on Caterpillar from $500.00 to $495.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. Jefferies Financial Group restated a "buy" rating and set a $500.00 target price on shares of Caterpillar in a research report on Friday, August 29th. Finally, JPMorgan Chase & Co. raised their target price on Caterpillar from $475.00 to $520.00 and gave the stock 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 given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $457.20.

Insider Activity

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan C. Schwab sold 2,324 shares of the business'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 sale, the director owned 6,917 shares of the company's stock, valued at approximately $2,835,970. The trade was a 25.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,653 shares of company stock valued at $8,943,642 over the last three months. 0.33% of the stock is owned by insiders.

Caterpillar Price Performance

CAT traded up $0.26 during trading on Tuesday, hitting $436.20. The company's stock had a trading volume of 675,516 shares, compared to its average volume of 2,716,669. The firm's 50 day moving average price is $420.93 and its two-hundred day moving average price is $366.13. The company has a quick ratio of 0.81, a current ratio of 1.34 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 stock has a market capitalization of $204.35 billion, a price-to-earnings ratio of 22.20, a price-to-earnings-growth ratio of 2.62 and a beta of 1.41.

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