Red Mountain Financial LLC Cuts Position in Caterpillar Inc. $CAT

Red Mountain Financial LLC lessened its holdings in Caterpillar Inc. (NYSE:CAT) by 16.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 661 shares of the industrial products company’s stock after selling 126 shares during the quarter. Red Mountain Financial LLC’s holdings in Caterpillar were worth $257,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAT. Compass Financial Services Inc grew its holdings in Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares during the period. Family Legacy Financial Solutions LLC purchased a new stake in Caterpillar in the second quarter worth about $32,000. Curat Global LLC purchased a new stake in Caterpillar in the first quarter worth about $33,000. Redmont Wealth Advisors LLC purchased a new stake in Caterpillar in the first quarter worth about $33,000. Finally, Fiduciary Wealth Partners LLC purchased a new stake in shares of Caterpillar during the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Robert W. Baird increased their price target on shares of Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Bank of America increased their price target on shares of Caterpillar from $495.00 to $517.00 and gave the company a “buy” rating in a report on Monday, September 22nd. 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, Citigroup reiterated 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, eleven have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $466.53.

Insiders Place Their Bets

In other Caterpillar news, 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 value of $952,840.00. Following the transaction, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction that occurred on 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 completion of the transaction, 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. Over the last ninety days, insiders have sold 38,819 shares of company stock worth $16,885,492. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 2.1%

CAT opened at $490.88 on Friday. 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 Inc. has a 1-year low of $267.30 and a 1-year high of $495.98. The company has a market capitalization of $229.97 billion, a PE ratio of 24.97, a PEG ratio of 2.92 and a beta of 1.46. The firm’s 50 day simple moving average is $435.71 and its two-hundred day simple moving average is $377.37.

Caterpillar (NYSE:CAT) last released 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 return on equity of 48.95% and a net margin of 14.95%.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 previous year, the business posted $5.99 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. As a group, equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current 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.