Gateway Investment Advisers LLC Decreases Holdings in Caterpillar Inc. $CAT

Gateway Investment Advisers LLC reduced its holdings in Caterpillar Inc. (NYSE:CAT) by 0.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,967 shares of the industrial products company’s stock after selling 114 shares during the period. Gateway Investment Advisers LLC’s holdings in Caterpillar were worth $60,936,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. 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 worth $472,000 after purchasing an additional 29 shares during the period. McIlrath & Eck LLC raised its stake in Caterpillar by 3.2% during the fourth quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company’s stock worth $349,000 after purchasing an additional 30 shares during the period. Allen Wealth Management LLC raised its stake in Caterpillar by 0.8% during the first quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company’s stock worth $1,322,000 after purchasing an additional 30 shares during the period. Warwick Investment Management Inc. raised its stake in shares of Caterpillar by 2.6% in the 1st quarter. Warwick Investment Management Inc. now owns 1,167 shares of the industrial products company’s stock valued at $385,000 after acquiring an additional 30 shares during the period. Finally, Compass Financial Services Inc raised its stake 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 acquiring an additional 31 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was 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 $3,605,586.40. This trade represents 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, Chairman Donald J. Umpleby III sold 17,168 shares of the firm’s stock in a transaction on 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 transaction, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,653 shares of company stock worth $8,943,642 over the last ninety days. 0.33% of the stock is owned by insiders.

Caterpillar Stock Up 1.1%

CAT stock opened at $440.66 on Wednesday. The firm has a 50 day simple moving average of $421.85 and a 200-day simple moving average of $366.65. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15. The company has a market capitalization of $206.44 billion, a P/E ratio of 22.41, a PEG ratio of 2.65 and a beta of 1.41. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter last year, the business earned $5.99 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Oppenheimer dropped their price objective on shares of Caterpillar from $493.00 to $480.00 and set an “outperform” rating for the company in a report on Friday, August 29th. Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Caterpillar in a report on Monday, July 14th. Jefferies Financial Group reiterated a “buy” rating and set a $500.00 price target on shares of Caterpillar in a report on Friday, August 29th. Finally, DA Davidson boosted their price target on shares of Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Two equities research 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $457.20.

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.