Precedent Wealth Partners LLC Purchases Shares of 4,136 Caterpillar Inc. $CAT

Precedent Wealth Partners LLC purchased a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,136 shares of the industrial products company's stock, valued at approximately $1,606,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GSB Wealth Management LLC boosted its position in Caterpillar by 1.2% in the 2nd 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 during the period. Verum Partners LLC raised its holdings in shares of Caterpillar by 2.5% in the 2nd quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company's stock valued at $411,000 after purchasing an additional 26 shares in the last quarter. Vanguard Capital Wealth Advisors raised its holdings in shares of 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 purchasing an additional 27 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Caterpillar by 2.4% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company's stock valued at $472,000 after purchasing an additional 29 shares in the last quarter. Finally, McAdam LLC raised its holdings in shares of Caterpillar by 1.6% in the 2nd quarter. McAdam LLC now owns 1,872 shares of the industrial products company's stock valued at $727,000 after purchasing an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of Caterpillar from $495.00 to $517.00 and gave the company a "buy" rating in a 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 objective on the stock in a report on Tuesday, August 19th. Oppenheimer raised their price objective on shares of Caterpillar from $480.00 to $513.00 and gave the company an "outperform" rating in a report on Monday, September 29th. Barclays raised their price objective on shares of Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Finally, DA Davidson lifted their price target on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $466.53.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $498.48 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The firm has a market capitalization of $233.53 billion, a P/E ratio of 25.35, a P/E/G ratio of 2.98 and a beta of 1.46. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $504.48. The company's fifty day moving average price is $436.99 and its 200 day moving average price is $378.48.

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 analysts' consensus estimates of $4.88 by ($0.16). The business had revenue of $16.57 billion during 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 revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.99 earnings per share. As a group, sell-side analysts predict 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, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction on 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 approximately $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar 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 completion of the transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is owned by company insiders.

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.

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