Wagner Wealth Management LLC Boosts Stake in Caterpillar Inc. $CAT

Key Points

• Wagner Wealth Management LLC increased its stake in Caterpillar Inc. by 84.2% during Q2, now owning 1,615 shares valued at approximately $627,000.
• Caterpillar's recent earnings report showed an EPS of $4.72, missing estimates, while revenue reached $16.57 billion, surpassing analysts' expectations.
• Analysts maintained a generally positive outlook with several upgrading target prices, including JPMorgan's increase from $475 to $520 and Evercore ISI raising from "in-line" to "outperform."

Wagner Wealth Management LLC grew its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 84.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,615 shares of the industrial products company's stock after purchasing an additional 738 shares during the quarter. Wagner Wealth Management LLC's holdings in Caterpillar were worth $627,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CAT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Caterpillar by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock worth $26,037,000 after acquiring an additional 7,125 shares in the last quarter. Ransom Advisory Ltd bought a new position in Caterpillar during the 1st quarter worth approximately $427,000. Charles Schwab Investment Management Inc. increased its holdings in Caterpillar by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock worth $1,089,798,000 after buying an additional 15,347 shares during the last quarter. Heartwood Wealth Advisors LLC raised its stake in Caterpillar by 4.2% during the second quarter. Heartwood Wealth Advisors LLC now owns 2,975 shares of the industrial products company's stock worth $1,155,000 after acquiring an additional 121 shares in the last quarter. Finally, Fiduciary Financial Group LLC increased its stake in shares of Caterpillar by 81.2% in the 2nd quarter. Fiduciary Financial Group LLC now owns 1,913 shares of the industrial products company's stock valued at $748,000 after acquiring an additional 857 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Trading Up 0.5%

Shares of Caterpillar stock opened at $466.06 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 company has a 50 day simple moving average of $430.98 and a two-hundred day simple moving average of $373.71. The firm has a market cap of $218.34 billion, a PE ratio of 23.71, a PEG ratio of 2.83 and a beta of 1.41. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $485.34.

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 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 company had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. During the same period last year, the firm posted $5.99 EPS. Caterpillar's quarterly revenue was down .7% compared to the same quarter last year. Analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CAT shares. Citigroup reissued a "buy" rating on shares of Caterpillar in a research note on Tuesday. DA Davidson upped their target price on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their target price on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Evercore ISI raised Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price target on the stock in a research note on Tuesday, August 19th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $500.00 price target on shares of Caterpillar in a report on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Caterpillar has an average rating of "Moderate Buy" and an average target price of $464.33.

Insider Activity

In related news, Director Susan C. Schwab sold 2,324 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director owned 6,917 shares in the company, valued at $2,835,970. This represents a 25.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the sale, the chairman directly owned 482,505 shares in the company, valued at $199,211,839.35. The trade was a 3.44% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is owned by corporate 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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