Cornell Pochily Investment Advisors Inc. Acquires 325 Shares of Caterpillar Inc. $CAT

Cornell Pochily Investment Advisors Inc. grew its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,783 shares of the industrial products company’s stock after acquiring an additional 325 shares during the quarter. Caterpillar comprises 1.1% of Cornell Pochily Investment Advisors Inc.’s investment portfolio, making the stock its 20th largest position. Cornell Pochily Investment Advisors Inc.’s holdings in Caterpillar were worth $3,410,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. GSB Wealth Management LLC raised its holdings in shares of Caterpillar by 1.2% during the 2nd quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock valued at $832,000 after buying an additional 26 shares in the last quarter. Verum Partners LLC increased its stake in Caterpillar by 2.5% in the 2nd quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock worth $411,000 after purchasing an additional 26 shares during the period. Vanguard Capital Wealth Advisors increased its stake in Caterpillar by 0.8% in the 2nd quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock worth $1,388,000 after purchasing an additional 27 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in Caterpillar by 2.4% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company’s stock worth $472,000 after purchasing an additional 29 shares during the period. Finally, McAdam LLC increased its stake in Caterpillar by 1.6% in the 2nd quarter. McAdam LLC now owns 1,872 shares of the industrial products company’s stock worth $727,000 after purchasing an additional 29 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Trading Up 2.1%

NYSE CAT opened at $490.88 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $495.98. The firm has a market capitalization of $229.97 billion, a PE ratio of 24.97, a P/E/G ratio of 2.92 and a beta of 1.46. The stock’s 50 day moving average is $435.71 and its 200 day moving average is $377.37.

Caterpillar (NYSE:CAT) last released its quarterly earnings results 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). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter in the prior year, the firm earned $5.99 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,166 shares of Caterpillar stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $462.65, for a total value of $7,941,849.90. Following the sale, the chairman owned 465,339 shares in the company, valued at $215,289,088.35. This represents a 3.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,819 shares of company stock worth $16,885,492 over the last ninety days. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CAT. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a research note on Wednesday, July 9th. Barclays lifted their price target on Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Robert W. Baird boosted their target price on Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price on the stock in a research note on Wednesday, July 9th. Finally, Bank of America boosted 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. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and an average target price of $466.53.

Caterpillar Company 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.