Prime Capital Investment Advisors LLC Sells 1,695 Shares of Caterpillar Inc. $CAT

Prime Capital Investment Advisors LLC cut its stake in shares of Caterpillar Inc. (NYSE:CATFree Report) by 5.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,287 shares of the industrial products company’s stock after selling 1,695 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Caterpillar were worth $10,981,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valeo Financial Advisors LLC increased its position in Caterpillar by 36,842.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after buying an additional 7,279,991 shares in the last quarter. Pacer Advisors Inc. grew its stake in Caterpillar by 2,723.1% in the first 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 stake in shares of Caterpillar during the first quarter valued at approximately $391,788,000. Assenagon Asset Management S.A. raised its position in shares of 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 worth $327,297,000 after purchasing an additional 712,711 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Caterpillar by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock worth $1,064,951,000 after purchasing an additional 268,300 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on CAT shares. Bank of America boosted their price target on shares of Caterpillar from $495.00 to $517.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Caterpillar in a research report on Saturday, September 27th. Citigroup reaffirmed a “buy” rating on shares of Caterpillar in a report on Tuesday, September 23rd. DA Davidson lifted their price target on Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Finally, Jefferies Financial Group restated a “buy” rating and issued a $500.00 price objective on shares of Caterpillar in a research note on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $466.53.

View Our Latest Analysis on Caterpillar

Caterpillar Trading Up 1.6%

Shares of CAT opened at $498.48 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The firm has a market cap of $233.53 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 3.03 and a beta of 1.46. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $504.48. The business has a 50-day moving average of $436.99 and a 200 day moving average of $379.06.

Caterpillar (NYSE:CATGet Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same quarter in the previous year, the company posted $5.99 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. As a group, research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Activity

In related news, Chairman Donald J. Umpleby III sold 17,166 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction 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 transaction, the insider directly owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 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.

About Caterpillar

(Free Report)

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.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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