Stratos Wealth Partners LTD. Purchases 1,562 Shares of Caterpillar, Inc. (CAT)
Stratos Wealth Partners LTD. boosted its position in Caterpillar, Inc. (NYSE:CAT) by 8.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,614 shares of the industrial products company’s stock after purchasing an additional 1,562 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Caterpillar were worth $2,215,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CAT. Harbour Capital Advisors LLC bought a new stake in Caterpillar in the 1st quarter valued at $107,000. First Personal Financial Services lifted its position in shares of Caterpillar by 167.4% during the 1st quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock valued at $111,000 after acquiring an additional 750 shares during the period. Harfst & Associates Inc. bought a new stake in shares of Caterpillar during the 1st quarter valued at $111,000. Financial Architects Inc lifted its position in shares of Caterpillar by 5.7% during the 1st quarter. Financial Architects Inc now owns 1,215 shares of the industrial products company’s stock valued at $113,000 after acquiring an additional 65 shares during the period. Finally, Reilly Financial Advisors LLC lifted its position in shares of Caterpillar by 92.9% during the 2nd quarter. Reilly Financial Advisors LLC now owns 1,111 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 535 shares during the period. Institutional investors and hedge funds own 69.23% of the company’s stock.
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Shares of Caterpillar, Inc. (CAT) opened at 121.37 on Friday. Caterpillar, Inc. has a 52 week low of $80.33 and a 52 week high of $121.57. The stock has a 50 day moving average price of $115.74 and a 200 day moving average price of $104.67. The firm has a market cap of $71.73 billion, a PE ratio of 678.04 and a beta of 1.24.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The firm had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the previous year, the company posted $1.09 earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year. Equities analysts expect that Caterpillar, Inc. will post $5.24 earnings per share for the current year.
In other news, insider Bradley M. Halverson sold 182,612 shares of Caterpillar stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $114.05, for a total value of $20,826,898.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William A. Osborn sold 5,000 shares of Caterpillar stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $113.67, for a total value of $568,350.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 201,471 shares of company stock valued at $22,979,332. Corporate insiders own 0.15% of the company’s stock.
A number of research firms have recently weighed in on CAT. BMO Capital Markets upped their target price on Caterpillar from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday. Seaport Global Securities began coverage on Caterpillar in a research report on Wednesday, September 6th. They set a “neutral” rating and a $120.00 target price for the company. ValuEngine upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Vetr downgraded Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 target price for the company. in a research report on Monday, September 4th. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Caterpillar in a research report on Tuesday, August 29th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $111.74.
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