IMS Capital Management Invests $1.70 Million in Caterpillar Inc. $CAT

Key Points

• IMS Capital Management made a significant investment of $1.70 million by purchasing 4,375 shares of Caterpillar Inc. (NYSE: CAT) in the second quarter.
• Caterpillar's stock recently opened at $471.77, with a 1-year high of $485.34, and analysts project a consensus EPS of 19.86 for the current year.
• In insider trading news, Director Susan C. Schwab sold over 2,300 shares and Chairman Donald J. Umpleby III sold 17,166 shares, indicating a decrease in ownership for both executives.

IMS Capital Management purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,375 shares of the industrial products company's stock, valued at approximately $1,698,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CAT. GSB Wealth Management LLC increased its stake in shares of Caterpillar by 1.2% in the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company's stock valued at $832,000 after buying an additional 26 shares in the last quarter. Vanguard Capital Wealth Advisors increased its position in Caterpillar by 0.8% in the 2nd quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company's stock valued at $1,388,000 after acquiring an additional 27 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Caterpillar by 2.4% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company's stock worth $472,000 after acquiring an additional 29 shares during the last quarter. Allen Wealth Management LLC lifted its position in shares of Caterpillar by 0.8% during the first quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company's stock worth $1,322,000 after purchasing an additional 30 shares in the last quarter. Finally, Warwick Investment Management Inc. grew its stake in shares of Caterpillar by 2.6% during the first quarter. Warwick Investment Management Inc. now owns 1,167 shares of the industrial products company's stock valued at $385,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Price Performance

Caterpillar stock opened at $471.77 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. The firm has a market capitalization of $221.02 billion, a P/E ratio of 24.00, a PEG ratio of 2.87 and a beta of 1.41. The business has a 50-day moving average of $427.87 and a 200-day moving average of $371.09. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $485.34.

Caterpillar (NYSE:CAT - Get Free Report) last released 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 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 firm's revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $5.99 EPS. On average, equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Activity at Caterpillar

In related news, 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 transaction of $952,840.00. Following the sale, the director owned 6,917 shares of the company's stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the business's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $462.65, for a total value of $7,941,849.90. Following the completion of the transaction, the chairman directly owned 465,339 shares of the company's stock, valued at approximately $215,289,088.35. The trade was a 3.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,819 shares of company stock worth $16,885,492 in the last quarter. Corporate insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

CAT has been the subject of several research analyst reports. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective for the company in a research report on Wednesday, July 9th. DA Davidson lifted their target price on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Barclays upped their price target on Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Oppenheimer lowered their price objective on Caterpillar from $493.00 to $480.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. Finally, Bank of America upped their target price on shares of Caterpillar from $495.00 to $517.00 and gave the company a "buy" rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Caterpillar currently has a consensus rating of "Moderate Buy" and a consensus target price 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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