LeConte Wealth Management LLC Invests $225,000 in Caterpillar Inc. $CAT

Key Points

• LeConte Wealth Management LLC has purchased 580 shares of Caterpillar Inc., valued at approximately $225,000, indicating strong investor interest in the industrial sector.
• Despite a recent EPS miss of $4.72 against a consensus estimate of $4.88, Caterpillar's revenue of $16.57 billion surpassed expectations, showing resilience in market performance.
• Institutional investors now control 70.98% of Caterpillar's stock, with notable stake increases from several investment firms during the past quarter.

LeConte Wealth Management LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 580 shares of the industrial products company's stock, valued at approximately $225,000.

Other large investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Caterpillar by 9.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock worth $26,037,000 after acquiring an additional 7,125 shares during the period. Ransom Advisory Ltd bought a new position in Caterpillar during the 1st quarter worth $427,000. Charles Schwab Investment Management Inc. increased its stake in Caterpillar by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock worth $1,089,798,000 after acquiring an additional 15,347 shares during the period. Heartwood Wealth Advisors LLC increased its stake in Caterpillar by 4.2% during the 2nd quarter. Heartwood Wealth Advisors LLC now owns 2,975 shares of the industrial products company's stock worth $1,155,000 after acquiring an additional 121 shares during the period. Finally, Fiduciary Financial Group LLC increased its stake in shares of 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 purchasing an additional 857 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Insider Activity

In other news, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the transaction, 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 link. Also, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,819 shares of company stock valued at $16,885,492 in the last ninety days. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Down 0.2%

Shares of CAT opened at $470.50 on Thursday. The company has a market capitalization of $220.42 billion, a PE ratio of 23.93, a PEG ratio of 2.86 and a beta of 1.41. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $485.34. The stock's 50-day moving average price is $429.02 and its two-hundred day moving average price is $371.77. 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 earnings results 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 company had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.99 earnings per share. On average, analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Oppenheimer decreased their price target on Caterpillar from $493.00 to $480.00 and set an "outperform" rating on the stock in a research note on Friday, August 29th. Jefferies Financial Group restated a "buy" rating and set a $500.00 price objective on shares of Caterpillar in a research report on Friday, August 29th. JPMorgan Chase & Co. boosted their price objective on Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Barclays boosted their price objective on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Melius Research raised Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Caterpillar has an average rating of "Moderate Buy" and an average price target 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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