Columbia Asset Management Sells 313 Shares of Caterpillar Inc. $CAT

Columbia Asset Management lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,663 shares of the industrial products company’s stock after selling 313 shares during the period. Caterpillar comprises about 1.2% of Columbia Asset Management’s investment portfolio, making the stock its 20th biggest position. Columbia Asset Management’s holdings in Caterpillar were worth $6,080,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. GSB Wealth Management LLC raised its stake in Caterpillar by 1.2% during the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock valued at $832,000 after purchasing an additional 26 shares in the last quarter. Verum Partners LLC raised its stake in Caterpillar by 2.5% during the second quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock valued at $411,000 after purchasing an additional 26 shares in the last quarter. Vanguard Capital Wealth Advisors raised its stake in Caterpillar by 0.8% during the second quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock valued at $1,388,000 after purchasing an additional 27 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in 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 purchasing an additional 29 shares in the last quarter. Finally, McAdam LLC raised its stake in Caterpillar by 1.6% during the second quarter. McAdam LLC now owns 1,872 shares of the industrial products company’s stock valued at $727,000 after purchasing an additional 29 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Activity

In other news, insider Jason Kaiser sold 2,161 shares of the 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 transaction, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan C. Schwab sold 2,324 shares of the 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 transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,819 shares of company stock worth $16,885,492. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Robert W. Baird raised their target price on shares of Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Jefferies Financial Group restated a “buy” rating and issued a $500.00 target price on shares of Caterpillar in a report on Friday, August 29th. Barclays raised their target price on shares of Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. DA Davidson raised their target price on shares of Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Finally, Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price for the company in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $466.53.

Caterpillar Trading Up 1.1%

CAT stock opened at $477.03 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. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $485.34. The firm’s 50-day moving average is $433.41 and its 200 day moving average is $375.62. The company has a market capitalization of $223.48 billion, a PE ratio of 24.26, a P/E/G ratio of 2.87 and a beta of 1.41.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS 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 business had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter in the prior year, the firm posted $5.99 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. On average, research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar 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.