Wells Trecaso Financial Group LLC Has $6.64 Million Stock Position in Caterpillar Inc. $CAT

Key Points

• Wells Trecaso Financial Group LLC has increased its stake in Caterpillar Inc. by 3.2%, owning approximately $6.64 million worth of shares, which represents 2.1% of its total holdings.
• Several hedge funds, including Pacer Advisors and Nuveen LLC, have significantly increased their stakes in Caterpillar, reflecting strong institutional interest in the company.
• Caterpillar's stock hit an all-time high of $504.48, with a current market capitalization of $233.53 billion despite a recent quarterly earnings report that fell short of expectations.

Wells Trecaso Financial Group LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 3.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,109 shares of the industrial products company's stock after purchasing an additional 523 shares during the quarter. Caterpillar makes up approximately 2.1% of Wells Trecaso Financial Group LLC's holdings, making the stock its 17th biggest holding. Wells Trecaso Financial Group LLC's holdings in Caterpillar were worth $6,642,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. raised its stake in shares of Caterpillar by 2,723.1% in the first quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock worth $466,430,000 after acquiring an additional 1,364,183 shares during the last quarter. Nuveen LLC bought a new stake in shares of Caterpillar during the first quarter valued at approximately $391,788,000. Assenagon Asset Management S.A. grew its stake in shares of Caterpillar by 546.6% during the second quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company's stock valued at $327,297,000 after purchasing an additional 712,711 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Caterpillar by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company's stock valued at $1,064,951,000 after purchasing an additional 268,300 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Caterpillar by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company's stock valued at $1,386,626,000 after purchasing an additional 264,054 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Trading Up 1.6%

Shares of NYSE CAT opened at $498.48 on Friday. The company's 50 day simple moving average is $436.99 and its 200 day simple moving average is $378.48. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $504.48. The firm has a market capitalization of $233.53 billion, a P/E ratio of 25.35, a P/E/G ratio of 2.98 and a beta of 1.46. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.99 earnings per share. On average, analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on CAT. Bank of America increased their price target on shares of Caterpillar from $495.00 to $517.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Robert W. Baird increased their price target on shares of Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Evercore ISI raised shares of 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. JPMorgan Chase & Co. increased their price target on shares of Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Finally, Citigroup restated a "buy" rating on shares of Caterpillar in a report on Tuesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $466.53.

Insiders Place Their Bets

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction on 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 directly owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction on 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 sale, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,819 shares of company stock worth $16,885,492. Company insiders own 0.33% of the company's stock.

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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