Golden State Equity Partners Lowers Stock Holdings in Caterpillar Inc. $CAT

Key Points

• Golden State Equity Partners reduced its stake in Caterpillar Inc. by 24.2%, holding 4,029 shares valued at approximately $1.56 million after selling 1,285 shares.
• Despite missing earnings estimates in its recent quarterly report, Caterpillar's revenue exceeded expectations, totaling $16.57 billion for the quarter.
• Insiders have sold a combined total of 21,653 shares valued at around $8.94 million in the past ninety days, indicating potential concerns regarding the stock's performance.

Golden State Equity Partners reduced its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 24.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,029 shares of the industrial products company's stock after selling 1,285 shares during the period. Golden State Equity Partners' holdings in Caterpillar were worth $1,564,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Caterpillar by 43,447.3% in the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock valued at $1,230,239,000 after acquiring an additional 3,721,693 shares during the period. Pacer Advisors Inc. increased its stake in Caterpillar by 2,723.1% in the first 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 during the period. Nuveen LLC purchased a new position in Caterpillar during the 1st quarter worth $391,788,000. Assenagon Asset Management S.A. lifted its stake in shares of Caterpillar by 546.6% during 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 during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Caterpillar in the fourth quarter valued at about $108,958,000. Institutional investors own 70.98% of the company's stock.

Caterpillar Trading Down 0.1%

Shares of CAT stock opened at $466.62 on Monday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $472.12. The company has a market capitalization of $218.60 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 2.84 and a beta of 1.41. The firm has a 50-day moving average price of $425.21 and a 200 day moving average price of $369.54. 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 (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company's quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned $5.99 earnings per share. Research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director directly owned 6,917 shares of the company's stock, valued at $2,835,970. The trade was a 25.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,653 shares of company stock valued at $8,943,642. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CAT shares. Robert W. Baird raised their price objective on shares of Caterpillar from $495.00 to $540.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 17th. Melius Research upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price for the company in a research report on Wednesday, July 9th. JPMorgan Chase & Co. upped their target price on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. DA Davidson lifted their price target on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Evercore ISI upgraded 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. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $460.20.

Caterpillar 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.

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.