Prime Capital Investment Advisors LLC Sells 1,695 Shares of Caterpillar Inc. $CAT

Key Points

• Prime Capital Investment Advisors LLC sold 1,695 shares of Caterpillar Inc., reducing its holdings by 5.7% to 28,287 shares, valued at approximately $10.98 million.
• Caterpillar's stock recently reached a 52-week high of $504.48, with a market capitalization of $233.53 billion and a current price of $498.48.
• Despite reporting a missed earnings estimate for the quarter with EPS of $4.72 compared to $4.88 forecast, Caterpillar's revenue of $16.57 billion exceeded expectations.

Prime Capital Investment Advisors LLC lessened its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 5.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,287 shares of the industrial products company's stock after selling 1,695 shares during the period. Prime Capital Investment Advisors LLC's holdings in Caterpillar were worth $10,981,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CAT. Family Legacy Financial Solutions LLC bought a new position in Caterpillar in the 2nd quarter valued at about $32,000. Compass Financial Services Inc raised its stake in Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock worth $31,000 after purchasing an additional 31 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in Caterpillar in the 1st quarter valued at about $33,000. Maseco LLP acquired a new position in shares of Caterpillar during the 2nd quarter worth approximately $45,000. Finally, Park Place Capital Corp increased its holdings in shares of Caterpillar by 47.6% during the second quarter. Park Place Capital Corp now owns 124 shares of the industrial products company's stock worth $48,000 after purchasing an additional 40 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Up 1.6%

Shares of CAT opened at $498.48 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $504.48. The stock has a market capitalization of $233.53 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 3.03 and a beta of 1.46. The stock has a fifty day moving average of $436.99 and a 200-day moving average of $379.06.

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 (EPS) for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). The firm had revenue of $16.57 billion during 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%.Caterpillar's revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $5.99 EPS. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of the firm's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the completion of the transaction, the chairman owned 465,339 shares of the company's stock, valued at approximately $215,289,088.35. This trade represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $952,840.00. Following the transaction, the director directly owned 6,917 shares of the company's stock, 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. 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 currently owned by insiders.

Analysts Set New Price Targets

CAT has been the subject of several recent research reports. Barclays boosted 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. DA Davidson increased their target price on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target for the company in a research note on Wednesday, July 9th. Citigroup reissued a "buy" rating on shares of Caterpillar in a report on Tuesday, September 23rd. Finally, Oppenheimer upped their price target on shares of Caterpillar from $480.00 to $513.00 and gave the stock an "outperform" rating in a report on Monday, September 29th. 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. Based on data from MarketBeat, Caterpillar currently has a consensus rating of "Moderate Buy" and an average price target of $466.53.

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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