Caterpillar Inc. $CAT Shares Sold by Howe & Rusling Inc.

Key Points

• Howe & Rusling Inc. reduced its stake in Caterpillar Inc. by 2.9%, selling 614 shares during the first quarter, bringing their total holdings to 20,468 shares valued at approximately $6.75 million.
• Analysts have recently raised their price targets for Caterpillar, with Barclays setting it at $425 and JPMorgan Chase at $520, while the stock currently holds a consensus rating of "Moderate Buy."
• Company insiders sold a total of 21,653 shares worth nearly $9 million in the last quarter, indicating a significant decrease in their ownership positions.

Howe & Rusling Inc. trimmed its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 2.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,468 shares of the industrial products company's stock after selling 614 shares during the period. Howe & Rusling Inc.'s holdings in Caterpillar were worth $6,750,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Compass Financial Services Inc lifted its holdings in shares of Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock worth $31,000 after acquiring an additional 31 shares during the last quarter. Investment Management Corp VA ADV purchased a new stake in Caterpillar in the fourth quarter worth about $33,000. Curat Global LLC purchased a new stake in Caterpillar in the first quarter worth about $33,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Caterpillar during the first quarter valued at approximately $33,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Caterpillar during the fourth quarter valued at approximately $36,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Trading Up 2.5%

Shares of CAT stock traded up $10.86 during trading hours on Wednesday, reaching $451.53. 1,973,536 shares of the stock were exchanged, compared to its average volume of 2,721,623. The firm has a market capitalization of $211.53 billion, a price-to-earnings ratio of 22.92, a price-to-earnings-growth ratio of 2.65 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. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $450.70. The company's 50-day moving average price is $421.85 and its 200-day moving average price is $366.65.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). The firm 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%.The company's revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $5.99 EPS. As a group, equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Activity

In related news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction that occurred 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 completion of the transaction, the insider owned 8,632 shares of the company's stock, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,653 shares of company stock valued at $8,943,642. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CAT. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Evercore ISI upgraded shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price on the stock in a report on Tuesday, August 19th. Barclays raised their target price on shares of Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Robert W. Baird raised their price objective on shares of Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research report on Wednesday. Finally, Melius Research raised 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 note on Wednesday, July 9th. Two equities research 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.com, Caterpillar has an average rating of "Moderate Buy" and an average target price of $460.20.

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.