Turtle Creek Wealth Advisors LLC Increases Holdings in Caterpillar Inc. $CAT

Key Points

• Turtle Creek Wealth Advisors LLC increased its holdings in Caterpillar Inc. by 12.3% during Q2, now owning 29,140 shares valued at approximately $11.3 million.
• Insiders at Caterpillar have recently sold significant amounts of stock, including Jason Kaiser, who sold 2,161 shares for over $902,000, and Donald J. Umpleby III, who sold 17,168 shares for over $7 million.
• Caterpillar's quarterly earnings report showed an EPS of $4.72, falling short of analysts' expectations, with the company's revenue slightly down by 0.7% from the previous year.

Turtle Creek Wealth Advisors LLC raised its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 12.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,140 shares of the industrial products company's stock after purchasing an additional 3,195 shares during the quarter. Caterpillar accounts for 1.3% of Turtle Creek Wealth Advisors LLC's holdings, making the stock its 15th largest holding. Turtle Creek Wealth Advisors LLC's holdings in Caterpillar were worth $11,313,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC purchased a new stake in Caterpillar in the second quarter valued at $32,000. Compass Financial Services Inc raised its position in Caterpillar by 49.2% in the first 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 during the period. Redmont Wealth Advisors LLC purchased a new stake in Caterpillar in the first quarter valued at $33,000. Maseco LLP purchased a new stake in Caterpillar in the second quarter valued at $45,000. Finally, Richardson Financial Services Inc. raised its position in Caterpillar by 109.1% in the second quarter. Richardson Financial Services Inc. now owns 115 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Transactions at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of the company's stock in a transaction dated Monday, August 11th. The stock was 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 of the company's stock, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was 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 of the company's stock, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $534.40 on Thursday. The business has a 50-day simple moving average of $448.68 and a 200-day simple moving average of $387.73. 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 one year low of $267.30 and a one year high of $538.45. The company has a market cap of $250.35 billion, a PE ratio of 27.18, a P/E/G ratio of 3.23 and a beta of 1.46.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly 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). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. During the same quarter in the prior year, the firm earned $5.99 EPS. The firm's revenue was down .7% compared to the same quarter last year. On average, equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar's dividend payout ratio is currently 30.72%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CAT. Weiss Ratings restated a "buy (b)" rating on shares of Caterpillar in a research report on Tuesday. Bank of America lifted their price objective on Caterpillar from $517.00 to $594.00 and gave the company a "buy" rating in a research note on Wednesday. Sanford C. Bernstein lifted their price objective on Caterpillar from $447.00 to $502.00 and gave the company a "market perform" rating in a research note on Tuesday. UBS Group lifted their price objective on Caterpillar from $450.00 to $506.00 and gave the company a "neutral" rating in a research note on Monday. Finally, Robert W. Baird lifted their price objective on Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $506.60.

Caterpillar Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.