IVC Wealth Advisors LLC Decreases Stock Position in Caterpillar Inc. $CAT

IVC Wealth Advisors LLC reduced its position in Caterpillar Inc. (NYSE:CAT) by 5.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,006 shares of the industrial products company’s stock after selling 247 shares during the period. Caterpillar comprises approximately 0.8% of IVC Wealth Advisors LLC’s holdings, making the stock its 26th largest position. IVC Wealth Advisors LLC’s holdings in Caterpillar were worth $1,555,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC purchased a new position in Caterpillar in the 2nd quarter worth approximately $32,000. Compass Financial Services Inc raised its holdings in Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 31 shares during the last quarter. Curat Global LLC purchased a new position in Caterpillar in the 1st quarter worth approximately $33,000. Redmont Wealth Advisors LLC purchased a new stake in Caterpillar during the 1st quarter valued at $33,000. Finally, Maseco LLP bought a new position in shares of Caterpillar during the 2nd quarter valued at $45,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Trading Up 1.6%

NYSE:CAT opened at $498.48 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The firm has a market capitalization of $233.53 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 3.03 and a beta of 1.46. Caterpillar Inc. has a one year low of $267.30 and a one year high of $504.48. The business has a fifty day moving average price of $436.99 and a 200-day moving average price of $378.76.

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 the consensus estimate of $4.88 by ($0.16). The company had revenue of $16.57 billion during 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% on a year-over-year basis. During the same quarter last year, the company earned $5.99 earnings per share. Sell-side analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Jefferies Financial Group reissued a “buy” rating and set a $500.00 price target on shares of Caterpillar in a report on Friday, August 29th. Oppenheimer increased their price target on Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Truist Financial increased their price target on Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Barclays increased their price target on Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and an average price target of $466.53.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider directly owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the firm’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following 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. Insiders have sold a total of 38,819 shares of company stock valued at $16,885,492 over the last ninety days. 0.33% of the stock is currently owned by company insiders.

About Caterpillar

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.