Caterpillar Inc. $CAT Stock Acquired by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc lifted its position in Caterpillar Inc. (NYSE:CAT) by 69.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,195 shares of the industrial products company’s stock after buying an additional 1,308 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in Caterpillar were worth $2,557,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Caterpillar during the 2nd quarter valued at $40,457,153,000. State Street Corp boosted its position in shares of Caterpillar by 4.0% during the second quarter. State Street Corp now owns 36,276,960 shares of the industrial products company’s stock valued at $37,120,529,000 after purchasing an additional 1,396,356 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Caterpillar in the 2nd quarter worth about $5,818,150,000. Bank of New York Mellon Corp bought a new position in shares of Caterpillar during the second quarter valued at approximately $3,192,710,000. Finally, Legal & General Group Plc bought a new stake in Caterpillar in the second quarter worth $2,783,451,000. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In related news, CEO Joseph E. Creed sold 32,401 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $808.98, for a total value of $26,211,760.98. Following the transaction, the chief executive officer directly owned 34,555 shares of the company’s stock, valued at $27,954,303.90. This represents a 48.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CAT. Citigroup reduced their price target on shares of Caterpillar from $1,100.00 to $950.00 and set a “buy” rating for the company in a research report on Monday. Weiss Ratings lowered shares of Caterpillar from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 29th. Freedom Broker upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $980.00 price target for the company in a research report on Thursday, September 10th. Robert W. Baird set a $970.00 target price on shares of Caterpillar in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. upped their price target on Caterpillar from $1,125.00 to $1,165.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 17th. Fifteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $982.92.

Caterpillar Trading Down 5.0%

Caterpillar stock traded down $39.74 during mid-day trading on Tuesday, hitting $759.63. The company’s stock had a trading volume of 1,848,988 shares, compared to its average volume of 2,805,360. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 1.37. The company has a 50 day moving average of $821.64 and a 200-day moving average of $855.26. Caterpillar Inc. has a one year low of $499.01 and a one year high of $1,073.46. The stock has a market cap of $349.18 billion, a PE ratio of 32.71, a P/E/G ratio of 1.38 and a beta of 1.58.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, topping analysts’ consensus estimates of $6.22 by $1.95. The business had revenue of $20.54 billion for the quarter, compared to analyst estimates of $19.34 billion. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period last year, the company posted $4.72 earnings per share. On average, research analysts anticipate that Caterpillar Inc. will post 27.49 EPS for the current year.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its products are used in infrastructure development, construction, mining, energy production, transportation, agriculture, forestry, and other industrial applications.

The company markets equipment and related services through a worldwide network of independent dealers. Its operations are generally organized around Construction Industries, Resource Industries, and Energy & Transportation.