Caterpillar Inc. $CAT Shares Sold by Fairvoy Private Wealth LLC

Fairvoy Private Wealth LLC cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 1.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,071 shares of the industrial products company’s stock after selling 41 shares during the period. Fairvoy Private Wealth LLC’s holdings in Caterpillar were worth $804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAT. Pacer Advisors Inc. lifted its position in Caterpillar by 2,723.1% during the first quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock valued at $466,430,000 after purchasing an additional 1,364,183 shares during the period. Nuveen LLC acquired a new position in shares of Caterpillar in the first quarter worth about $391,788,000. Assenagon Asset Management S.A. raised its position in shares of Caterpillar by 546.6% in the second quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock worth $327,297,000 after acquiring an additional 712,711 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Caterpillar by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock worth $1,064,951,000 after acquiring an additional 268,300 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Caterpillar by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock worth $1,386,626,000 after acquiring an additional 264,054 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Up 1.6%

CAT stock opened at $498.48 on Friday. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $504.48. The stock has a market capitalization of $233.53 billion, a P/E ratio of 25.35, a P/E/G ratio of 2.98 and a beta of 1.46. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The firm has a 50-day simple moving average of $436.99 and a 200-day simple moving average of $378.48.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same period in the prior year, the company posted $5.99 EPS. The firm’s revenue was down .7% on a year-over-year basis. Equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CAT has been the subject of a number of analyst reports. Citigroup reiterated a “buy” rating on shares of Caterpillar in a research report on Tuesday, September 23rd. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday. Robert W. Baird upped their price objective on shares of Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. JPMorgan Chase & Co. upped their price objective on shares of Caterpillar from $475.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $500.00 target price on shares of Caterpillar in a research note on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $466.53.

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the sale, the chairman directly owned 465,339 shares of the company’s stock, valued at approximately $215,289,088.35. This represents a 3.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,819 shares of company stock valued at $16,885,492. Corporate insiders own 0.33% of the company’s stock.

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.