Caterpillar Inc. $CAT Shares Sold by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 31.0% in the 2nd quarter, Holdings Channel reports. The fund owned 187 shares of the industrial products company’s stock after selling 84 shares during the period. Bruce G. Allen Investments LLC’s holdings in Caterpillar were worth $73,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Caterpillar by 2.4% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company’s stock valued at $472,000 after buying an additional 29 shares during the last quarter. McIlrath & Eck LLC raised its stake in Caterpillar by 3.2% during the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company’s stock valued at $349,000 after acquiring an additional 30 shares in the last quarter. Allen Wealth Management LLC boosted its position in Caterpillar by 0.8% during the 1st quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company’s stock worth $1,322,000 after acquiring an additional 30 shares during the period. Warwick Investment Management Inc. grew its stake in shares of Caterpillar by 2.6% in the first quarter. Warwick Investment Management Inc. now owns 1,167 shares of the industrial products company’s stock worth $385,000 after purchasing an additional 30 shares in the last quarter. Finally, Compass Financial Services Inc increased its holdings in shares of Caterpillar by 49.2% during the first 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 during the period. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

Shares of CAT opened at $440.66 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The company has a market capitalization of $206.44 billion, a price-to-earnings ratio of 22.41, a P/E/G ratio of 2.65 and a beta of 1.41. The business’s 50-day moving average is $421.85 and its 200-day moving average is $366.65. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $441.15.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data 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 company had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same period in the previous year, the firm posted $5.99 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CAT has been the subject of several research analyst reports. Citigroup upped their price objective on shares of Caterpillar from $460.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Melius raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target for the company in a research note on Wednesday, July 9th. Jefferies Financial Group reiterated a “buy” rating and set a $500.00 price objective on shares of Caterpillar in a research note on Friday, August 29th. Melius Research upgraded Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price for the company in a research report on Wednesday, July 9th. Finally, Barclays lifted their price target on Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $457.20.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 2,324 shares of Caterpillar 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 sale, the director owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares in the company, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,653 shares of company stock worth $8,943,642. Corporate insiders own 0.33% of the company’s stock.

About Caterpillar

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.