Sowell Financial Services LLC Has $4.60 Million Position in Caterpillar Inc. $CAT

Sowell Financial Services LLC lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 20.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,857 shares of the industrial products company’s stock after selling 3,092 shares during the quarter. Sowell Financial Services LLC’s holdings in Caterpillar were worth $4,603,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Caterpillar by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock valued at $26,037,000 after purchasing an additional 7,125 shares during the period. Ransom Advisory Ltd purchased a new position in Caterpillar during the 1st quarter worth $427,000. Charles Schwab Investment Management Inc. boosted its holdings in Caterpillar by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock worth $1,089,798,000 after acquiring an additional 15,347 shares during the last quarter. Heartwood Wealth Advisors LLC boosted its holdings in Caterpillar by 4.2% during the 2nd quarter. Heartwood Wealth Advisors LLC now owns 2,975 shares of the industrial products company’s stock worth $1,155,000 after acquiring an additional 121 shares during the last quarter. Finally, Fiduciary Financial Group LLC boosted its holdings in Caterpillar by 81.2% during the 2nd quarter. Fiduciary Financial Group LLC now owns 1,913 shares of the industrial products company’s stock worth $748,000 after acquiring an additional 857 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Down 0.1%

Shares of CAT opened at $466.62 on Friday. The business’s 50-day moving average price is $425.21 and its 200-day moving average price is $369.34. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $472.12. The stock has a market cap of $218.60 billion, a PE ratio of 23.73, a P/E/G ratio of 2.84 and a beta of 1.41. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT) last announced its quarterly 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). 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 the consensus estimate of $16.14 billion. During the same quarter in the prior year, the company earned $5.99 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Analyst Ratings Changes

CAT has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on shares of Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a report on Wednesday. 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 report on Tuesday, July 22nd. Bank of America lifted their price objective on shares of Caterpillar from $460.00 to $495.00 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 objective on the stock in a report on Wednesday, July 9th. Finally, Oppenheimer cut their price objective on shares of Caterpillar from $493.00 to $480.00 and set an “outperform” rating on the stock in a report on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus price target of $460.20.

Insider Activity

In other news, 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 transaction of $7,088,152.16. Following the sale, the chairman directly owned 482,505 shares in the company, valued at $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jason Kaiser sold 2,161 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the sale, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,653 shares of company stock worth $8,943,642 over the last ninety days. Company insiders own 0.33% of the company’s stock.

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.