PBMares Wealth Management LLC Has $575,000 Holdings in Caterpillar Inc. $CAT

PBMares Wealth Management LLC reduced its position in Caterpillar Inc. (NYSE:CAT) by 4.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,482 shares of the industrial products company’s stock after selling 65 shares during the period. PBMares Wealth Management LLC’s holdings in Caterpillar were worth $575,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Family Legacy Financial Solutions LLC acquired a new position in Caterpillar in the 2nd quarter worth about $32,000. Compass Financial Services Inc increased its position in Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares during the last quarter. Curat Global LLC acquired a new position in Caterpillar in the 1st quarter worth about $33,000. Redmont Wealth Advisors LLC acquired a new position in Caterpillar in the 1st quarter worth about $33,000. Finally, Maseco LLP bought a new stake in shares of Caterpillar during the 2nd quarter worth about $45,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider owned 8,632 shares of the company’s stock, valued at $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 is available at this link. Also, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,819 shares of company stock valued at $16,885,492 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 1.1%

Caterpillar stock opened at $477.03 on Wednesday. The business has a 50 day moving average price of $433.41 and a two-hundred day moving average price of $375.62. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The stock has a market cap of $223.48 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 2.87 and a beta of 1.41. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $485.34.

Caterpillar (NYSE:CAT) last posted its quarterly 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). The firm 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 revenue was down .7% on a year-over-year basis. During the same period last year, the company earned $5.99 EPS. As a group, equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Oppenheimer upped their price target on Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a research note on Monday. Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target for the company in a research note on Wednesday, July 9th. Jefferies Financial Group reiterated a “buy” rating and set a $500.00 price target on shares of Caterpillar in a research note on Friday, August 29th. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target for the company in a research note on Tuesday, August 19th. Finally, Melius Research upgraded Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target for the company in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $466.53.

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.