Ergawealth Advisors Inc. Invests $455,000 in Caterpillar Inc. $CAT

Ergawealth Advisors Inc. acquired a new position in Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 1,171 shares of the industrial products company’s stock, valued at approximately $455,000.

Several other large investors have also recently made changes to their positions in CAT. Pacer Advisors Inc. grew its position in shares of Caterpillar by 2,723.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock valued at $466,430,000 after acquiring an additional 1,364,183 shares during the period. Nuveen LLC bought a new position in Caterpillar during the first quarter valued at $391,788,000. Assenagon Asset Management S.A. grew its holdings in 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 period. Goldman Sachs Group Inc. raised its stake in shares of Caterpillar by 9.1% in 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 buying an additional 268,300 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Caterpillar by 6.7% during the 1st 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 buying an additional 264,054 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on CAT. Barclays lifted their price objective on Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Jefferies Financial Group reissued a “buy” rating and issued a $500.00 price target on shares of Caterpillar in a research report on Friday, August 29th. Robert W. Baird raised their price objective on shares of Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a research report on Monday, July 14th. Two equities 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $466.53.

Caterpillar Stock Up 1.6%

Shares of NYSE:CAT opened at $498.48 on Friday. The firm has a fifty day moving average price of $436.99 and a two-hundred day moving average price of $378.76. The company has a market cap of $233.53 billion, a price-to-earnings ratio of 25.35, a PEG 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 one year low of $267.30 and a one year high of $504.48.

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). The firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $5.99 EPS. Analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Activity

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction 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 completion of the transaction, the director directly owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is currently owned by insiders.

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.