Abacus Planning Group Inc. Sells 149 Shares of Caterpillar Inc. $CAT

Abacus Planning Group Inc. lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,194 shares of the industrial products company’s stock after selling 149 shares during the quarter. Abacus Planning Group Inc.’s holdings in Caterpillar were worth $1,240,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Family Legacy Financial Solutions LLC bought a new stake in shares of Caterpillar in the 2nd quarter valued at about $32,000. Compass Financial Services Inc raised its holdings in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares in the last quarter. Curat Global LLC bought a new stake in shares of Caterpillar in the 1st quarter valued at about $33,000. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar in the 1st quarter valued at about $33,000. Finally, Maseco LLP bought a new stake in shares of Caterpillar in the 2nd quarter valued at about $45,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 2.1%

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

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 the consensus estimate of $4.88 by ($0.16). The company had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $5.99 EPS. Analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Insiders Place Their Bets

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. The trade was a 25.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 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. The trade was a 3.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,819 shares of company stock valued at $16,885,492. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CAT. Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. DA Davidson lifted their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Truist Financial lifted their price objective on shares of Caterpillar from $414.00 to $507.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Barclays lifted their price objective on shares of Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a research report on Monday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Caterpillar currently has a consensus rating of “Moderate Buy” and an average price target 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.