Sax Wealth Advisors LLC Buys 1,066 Shares of Caterpillar Inc. $CAT

Sax Wealth Advisors LLC grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 24.4% during the third quarter, Holdings Channel reports. The firm owned 5,430 shares of the industrial products company’s stock after purchasing an additional 1,066 shares during the period. Sax Wealth Advisors LLC’s holdings in Caterpillar were worth $4,403,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Stonebridge Financial Group LLC boosted its holdings in shares of Caterpillar by 0.7% in the 2nd quarter. Stonebridge Financial Group LLC now owns 1,635 shares of the industrial products company’s stock valued at $1,741,000 after buying an additional 11 shares in the last quarter. Inspirion Wealth Advisors LLC raised its stake in Caterpillar by 1.2% during the 2nd quarter. Inspirion Wealth Advisors LLC now owns 944 shares of the industrial products company’s stock worth $936,000 after acquiring an additional 11 shares in the last quarter. Bell Bank raised its stake in Caterpillar by 0.6% during the 2nd quarter. Bell Bank now owns 1,865 shares of the industrial products company’s stock worth $1,986,000 after acquiring an additional 11 shares in the last quarter. Cornerstone Advisory LLC raised its stake in Caterpillar by 0.7% during the 1st quarter. Cornerstone Advisory LLC now owns 1,818 shares of the industrial products company’s stock worth $1,288,000 after acquiring an additional 12 shares in the last quarter. Finally, Sunbeam Capital Management LLC lifted its position in Caterpillar by 1.1% in the first quarter. Sunbeam Capital Management LLC now owns 1,164 shares of the industrial products company’s stock valued at $825,000 after acquiring an additional 13 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Joseph E. Creed sold 32,401 shares of Caterpillar stock in a transaction on Friday, August 28th. The shares were sold at an average price of $808.98, for a total value of $26,211,760.98. Following the transaction, the chief executive officer directly owned 34,555 shares in the company, valued at $27,954,303.90. This trade represents a 48.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on CAT shares. Weiss Ratings downgraded shares of Caterpillar from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, September 29th. Wall Street Zen raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday. Oppenheimer restated an “outperform” rating and set a $1,118.00 price target on shares of Caterpillar in a research note on Tuesday, August 4th. Wells Fargo & Company lifted their price target on Caterpillar from $1,050.00 to $1,155.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 23rd. Finally, President Capital assumed coverage on Caterpillar in a research note on Friday, September 18th. They issued a “buy” rating and a $999.00 price objective for the company. Fifteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $982.92.

Caterpillar Stock Performance

Shares of CAT stock traded down $38.50 during midday trading on Tuesday, hitting $760.87. The company had a trading volume of 1,848,988 shares, compared to its average volume of 2,805,360. The company’s 50 day simple moving average is $821.64 and its 200 day simple moving average is $855.26. Caterpillar Inc. has a 52-week low of $499.01 and a 52-week high of $1,073.46. The stock has a market cap of $349.75 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 1.38 and a beta of 1.58. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.37 and a quick ratio of 0.85.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.22 by $1.95. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%. The business had revenue of $20.54 billion for the quarter, compared to analyst estimates of $19.34 billion. During the same quarter in the previous year, the company posted $4.72 earnings per share. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. Research analysts anticipate that Caterpillar Inc. will post 27.49 earnings per share for the current fiscal year.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its products are used in infrastructure development, construction, mining, energy production, transportation, agriculture, forestry, and other industrial applications.

The company markets equipment and related services through a worldwide network of independent dealers. Its operations are generally organized around Construction Industries, Resource Industries, and Energy & Transportation.