Caterpillar Inc. $CAT Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC lessened its stake in Caterpillar Inc. (NYSE:CAT) by 10.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,616 shares of the industrial products company’s stock after selling 661 shares during the period. Checchi Capital Advisers LLC’s holdings in Caterpillar were worth $2,180,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CAT. GSB Wealth Management LLC increased its stake in shares of Caterpillar by 1.2% during the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock worth $832,000 after acquiring an additional 26 shares during the period. Verum Partners LLC increased its position in Caterpillar by 2.5% during the 2nd quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock worth $411,000 after purchasing an additional 26 shares during the period. Vanguard Capital Wealth Advisors increased its position in Caterpillar by 0.8% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock worth $1,388,000 after purchasing an additional 27 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in Caterpillar by 2.4% during the 2nd 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. Finally, McAdam LLC grew its holdings in Caterpillar by 1.6% during the second quarter. McAdam LLC now owns 1,872 shares of the industrial products company’s stock worth $727,000 after acquiring an additional 29 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

CAT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Caterpillar from $475.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. 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. Oppenheimer increased their target price on shares of Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday. Finally, Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective for the company in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $466.53.

Caterpillar Stock Performance

Caterpillar stock opened at $498.48 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The stock has a fifty day moving average of $436.99 and a two-hundred day moving average of $378.76. The company has a market capitalization of $233.53 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 3.03 and a beta of 1.46. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $504.48.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data 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 company had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.99 EPS. On average, analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Transactions at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of Caterpillar 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 completion of the sale, the director directly owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. The trade was a 25.15% decrease in their position. 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 17,166 shares of Caterpillar stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the completion of the sale, the chairman directly owned 465,339 shares of the company’s stock, valued at $215,289,088.35. The trade was a 3.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,819 shares of company stock worth $16,885,492 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

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.