Janney Montgomery Scott LLC Sells 10,199 Shares of Caterpillar Inc. $CAT

Key Points

• Janney Montgomery Scott LLC decreased its holdings in Caterpillar Inc. by 4.0%, now owning approximately 245,376 shares valued at $95.26 million.
• Several hedge funds, including MIRAE ASSET GLOBAL ETFS HOLDINGS, have increased their stakes in Caterpillar, indicating strong institutional interest.
• Analysts have raised their price targets for Caterpillar's stock, with ratings showing a consensus of "Moderate Buy" and a target price of $466.53.

Janney Montgomery Scott LLC lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 4.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 245,376 shares of the industrial products company's stock after selling 10,199 shares during the quarter. Janney Montgomery Scott LLC owned about 0.05% of Caterpillar worth $95,257,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Caterpillar by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock valued at $26,037,000 after buying an additional 7,125 shares during the last quarter. Ransom Advisory Ltd acquired a new position in Caterpillar in the 1st quarter valued at $427,000. Charles Schwab Investment Management Inc. grew its stake in Caterpillar by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock valued at $1,089,798,000 after buying an additional 15,347 shares during the last quarter. Heartwood Wealth Advisors LLC grew its stake in Caterpillar by 4.2% in the 2nd quarter. Heartwood Wealth Advisors LLC now owns 2,975 shares of the industrial products company's stock valued at $1,155,000 after buying an additional 121 shares during the last quarter. Finally, Fiduciary Financial Group LLC grew its stake in Caterpillar by 81.2% in the 2nd quarter. Fiduciary Financial Group LLC now owns 1,913 shares of the industrial products company's stock valued at $748,000 after buying an additional 857 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Robert W. Baird raised their target price on shares of Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Bank of America raised their price target on shares of Caterpillar from $495.00 to $517.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Evercore ISI upgraded shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price target on the stock in a research report on Tuesday, August 19th. Oppenheimer raised their price target on shares of Caterpillar from $480.00 to $513.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, 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 research report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $466.53.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman directly owned 482,505 shares in the company, valued at $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,819 shares of company stock worth $16,885,492 over the last ninety days. Corporate insiders own 0.33% of the company's stock.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $471.68 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The firm's 50-day simple moving average is $432.21 and its 200-day simple moving average is $374.91. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $485.34. The firm has a market cap of $220.97 billion, a P/E ratio of 23.99, a price-to-earnings-growth ratio of 2.83 and a beta of 1.41.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results 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). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter last year, the firm posted $5.99 earnings per share. Caterpillar's revenue was down .7% on a year-over-year basis. As a group, research analysts expect that Caterpillar Inc. will post 19.86 EPS 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.

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