Caterpillar Inc. $CAT Shares Sold by Rockland Trust Co.

Key Points

• Rockland Trust Co. has reduced its stake in Caterpillar Inc. (NYSE:CAT) by 13.5%, now holding 3,765 shares valued at approximately $1.46 million.
• Multiple institutional investors have also altered their positions in Caterpillar, with hedge funds collectively owning 70.98% of the company's stock.
• Caterpillar's recent financial performance showed a quarterly EPS of $4.72, missing estimates, while revenue was slightly down 0.7% year-over-year at $16.57 billion.

Rockland Trust Co. cut its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 13.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,765 shares of the industrial products company's stock after selling 587 shares during the quarter. Rockland Trust Co.'s holdings in Caterpillar were worth $1,462,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar during the second quarter valued at about $32,000. Investment Management Corp VA ADV purchased a new position in Caterpillar in the 4th quarter valued at $33,000. Compass Financial Services Inc lifted its holdings in Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 31 shares in the last quarter. Mattson Financial Services LLC purchased a new position in shares of Caterpillar during the 4th quarter worth $39,000. Finally, Curat Global LLC acquired a new stake in shares of Caterpillar during the 1st quarter worth about $33,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Price Performance

CAT stock traded down $0.34 during midday trading on Friday, reaching $466.62. 5,066,694 shares of the company's stock traded hands, compared to its average volume of 2,369,601. The company has a 50-day simple moving average of $425.21 and a two-hundred day simple moving average of $369.34. The company has a market cap of $218.60 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 2.84 and a beta of 1.41. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $472.12. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT - Get Free Report) last posted 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 return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter in the prior year, the firm posted $5.99 earnings per share. The business's revenue was down .7% on a year-over-year basis. On average, analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Susan C. Schwab sold 2,324 shares of the 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 transaction, the director owned 6,917 shares of the company's stock, valued at $2,835,970. This represents a 25.15% decrease in their position. The transaction 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 firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,653 shares of company stock worth $8,943,642 over the last three months. Insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

CAT has been the subject of several research reports. Citigroup lifted their target price on Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. DA Davidson boosted their target price on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Evercore ISI raised 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. Robert W. Baird upped their target price on Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Melius Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price on the stock in a research report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $460.20.

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.