Caterpillar Inc. $CAT Shares Sold by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management trimmed its position in Caterpillar Inc. (NYSE:CAT) by 2.8% in the second quarter, Holdings Channel reports. The firm owned 5,978 shares of the industrial products company’s stock after selling 174 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Caterpillar were worth $2,321,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Trivium Point Advisory LLC boosted its stake in Caterpillar by 132.9% in the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock valued at $748,000 after acquiring an additional 1,099 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 valued at $26,037,000 after acquiring an additional 7,125 shares during the period. Ransom Advisory Ltd acquired a new position in Caterpillar in the first quarter valued at approximately $427,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Caterpillar by 11.2% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock valued at $5,557,000 after acquiring an additional 1,440 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Caterpillar by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock valued at $1,089,798,000 after acquiring an additional 15,347 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Bank of America lifted their target price on Caterpillar from $495.00 to $517.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a research note on Wednesday, July 9th. Jefferies Financial Group restated a “buy” rating and issued a $500.00 target price on shares of Caterpillar in a research note on Friday, August 29th. Oppenheimer boosted their price objective on Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Caterpillar in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Caterpillar has an average rating of “Moderate Buy” and an average target price of $466.53.

Insiders Place Their Bets

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,166 shares of the company’s stock in a transaction on 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 transaction, the chairman owned 465,339 shares of the company’s stock, valued at approximately $215,289,088.35. This represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the company’s 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 completion of the transaction, the director directly owned 6,917 shares in the company, valued at $2,835,970. This represents a 25.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,819 shares of company stock worth $16,885,492 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

CAT opened at $498.48 on Friday. The company has a market capitalization of $233.53 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 3.03 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 Inc. has a 1-year low of $267.30 and a 1-year high of $504.48. The business has a 50 day moving average price of $436.99 and a two-hundred day moving average price of $378.76.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 48.95% and a net margin of 14.95%.The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the company earned $5.99 earnings per share. Research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

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.