Merit Financial Group LLC Has $11.89 Million Holdings in Caterpillar Inc. $CAT

Merit Financial Group LLC raised its position in Caterpillar Inc. (NYSE:CAT) by 43.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 30,639 shares of the industrial products company’s stock after purchasing an additional 9,266 shares during the period. Merit Financial Group LLC’s holdings in Caterpillar were worth $11,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the business. Beacon Financial Advisory LLC boosted its position in shares of Caterpillar by 4.3% in the second quarter. Beacon Financial Advisory LLC now owns 2,064 shares of the industrial products company’s stock valued at $801,000 after acquiring an additional 85 shares during the period. Iron Horse Wealth Management LLC raised its stake in Caterpillar by 69.2% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 247 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 101 shares in the last quarter. Simplicity Wealth LLC raised its stake in Caterpillar by 3.9% in the 2nd quarter. Simplicity Wealth LLC now owns 4,826 shares of the industrial products company’s stock worth $1,874,000 after purchasing an additional 180 shares in the last quarter. Olistico Wealth LLC increased its holdings in shares of Caterpillar by 46.1% during the second quarter. Olistico Wealth LLC now owns 2,235 shares of the industrial products company’s stock worth $868,000 after purchasing an additional 705 shares during the period. Finally, MBL Wealth LLC increased its holdings in shares of Caterpillar by 4.6% during the second quarter. MBL Wealth LLC now owns 2,071 shares of the industrial products company’s stock worth $804,000 after purchasing an additional 92 shares during the period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $498.48 on Friday. The firm has a 50 day simple moving average of $436.99 and a 200 day simple moving average of $378.76. The company has a market cap of $233.53 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 3.03 and a beta of 1.46. 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 one year low of $267.30 and a one year high of $504.48.

Caterpillar (NYSE:CAT) 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). The firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the business posted $5.99 earnings per share. Research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the sale, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction 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. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CAT shares. Jefferies Financial Group reissued a “buy” rating and set a $500.00 price target on shares of Caterpillar in a research report on Friday, August 29th. Robert W. Baird upped their target price on Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target for the company in a research note on Wednesday, July 9th. Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Citigroup reissued a “buy” rating on shares of Caterpillar in a report on Tuesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Caterpillar presently has a consensus rating of “Moderate Buy” and a consensus price target of $466.53.

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.