Sonora Investment Management Group LLC Has $8.55 Million Holdings in Caterpillar Inc. $CAT

Key Points

• Sonora Investment Management Group LLC increased its stake in Caterpillar Inc. by 19.3% in Q2, holding $8.55 million worth of shares after purchasing additional stock during the quarter.
• Caterpillar reported $4.72 EPS for the quarter, falling short of analysts' estimates, while revenue reached $16.57 billion, surpassing expectations.
• Institutional investors now hold 70.98% of Caterpillar's stock, with several investors increasing their stakes and displaying confidence in the company despite a recent drop in earnings per share.

Sonora Investment Management Group LLC raised its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 19.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 22,019 shares of the industrial products company's stock after purchasing an additional 3,568 shares during the quarter. Sonora Investment Management Group LLC's holdings in Caterpillar were worth $8,548,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CAT. Family Legacy Financial Solutions LLC acquired a new stake in shares of Caterpillar during the 2nd quarter worth approximately $32,000. Compass Financial Services Inc grew its position in shares of Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock worth $31,000 after buying an additional 31 shares during the period. Curat Global LLC acquired a new stake in shares of Caterpillar during the 1st quarter worth approximately $33,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Caterpillar during the 1st quarter worth approximately $33,000. Finally, Maseco LLP acquired a new stake in shares of Caterpillar during the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Trading Up 0.5%

NYSE CAT opened at $466.06 on Friday. The stock has a market capitalization of $218.34 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 2.83 and a beta of 1.41. Caterpillar Inc. has a one year low of $267.30 and a one year high of $485.34. 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 business's fifty day moving average is $430.98 and its 200-day moving average is $373.71.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results 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 for the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.99 earnings per share. Equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target for the company in a research report on Wednesday, July 9th. Citigroup reissued a "buy" rating on shares of Caterpillar in a research report on Tuesday. Oppenheimer dropped their price objective 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 note on Friday, August 29th. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $464.33.

Insider Buying and Selling

In related news, Chairman Donald J. Umpleby III sold 17,166 shares of Caterpillar stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $462.65, for a total value of $7,941,849.90. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the sale, the insider directly owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,819 shares of company stock valued at $16,885,492. 0.33% of the stock is owned by 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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