Harbor Investment Advisory LLC Reduces Holdings in Caterpillar Inc. $CAT

Harbor Investment Advisory LLC decreased its position in Caterpillar Inc. (NYSE:CAT) by 5.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,469 shares of the industrial products company’s stock after selling 152 shares during the period. Harbor Investment Advisory LLC’s holdings in Caterpillar were worth $958,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of 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 buying an additional 7,125 shares during the period. Victrix Investment Advisors purchased a new stake in shares of Caterpillar in the 4th quarter valued at approximately $2,090,000. Charles Schwab Investment Management Inc. boosted its position in shares of 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 purchasing an additional 15,347 shares during the period. Ransom Advisory Ltd purchased a new position in shares of Caterpillar during the 1st quarter worth approximately $427,000. Finally, Pacific Point Advisors LLC purchased a new position in shares of Caterpillar during the 4th quarter worth approximately $579,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity

In other news, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction on 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 directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the firm’s stock in a transaction 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 in the company, valued at $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. In the last three months, insiders have sold 21,653 shares of company stock worth $8,943,642. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CAT shares. Barclays increased their price objective on shares of Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Citigroup increased their price objective on shares of Caterpillar from $460.00 to $500.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective for the company in a research report on Wednesday, July 9th. Oppenheimer lowered their price objective on shares of Caterpillar from $493.00 to $480.00 and set an “outperform” rating for the company in a research report on Friday, August 29th. Finally, Robert W. Baird reduced their target price on shares of Caterpillar from $500.00 to $495.00 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 assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $457.20.

Caterpillar Price Performance

Caterpillar stock opened at $431.10 on Friday. The firm has a market cap of $201.96 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 2.62 and a beta of 1.41. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $441.15. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The company’s 50 day moving average is $420.04 and its two-hundred day moving average is $365.32.

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

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.