Oak Hill Wealth Advisors LLC Raises Stake in Caterpillar Inc. $CAT

Oak Hill Wealth Advisors LLC lifted its stake in Caterpillar Inc. (NYSE:CAT) by 12.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,219 shares of the industrial products company’s stock after buying an additional 250 shares during the quarter. Oak Hill Wealth Advisors LLC’s holdings in Caterpillar were worth $875,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Family Legacy Financial Solutions LLC bought a new position in Caterpillar during the second quarter valued at $32,000. Compass Financial Services Inc grew its holdings in shares of Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares during the last quarter. Curat Global LLC bought a new position in shares of Caterpillar in the first quarter worth about $33,000. Redmont Wealth Advisors LLC bought a new position in shares of Caterpillar in the first quarter worth about $33,000. Finally, Maseco LLP purchased a new stake in Caterpillar in the second quarter worth about $45,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 1.6%

Shares of CAT opened at $498.48 on Friday. The firm has a market cap of $233.53 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 2.98 and a beta of 1.46. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $504.48. The company’s 50-day moving average price is $436.99 and its 200 day moving average price is $378.48. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results 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 return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same period in the prior year, the company posted $5.99 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. On average, sell-side analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Activity

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,166 shares of Caterpillar stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $462.65, for a total value of $7,941,849.90. Following the sale, the chairman 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. Over the last ninety days, insiders sold 38,819 shares of company stock valued at $16,885,492. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CAT has been the subject of several analyst reports. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target for the company in a research report on Wednesday, July 9th. Bank of America upped their price objective on shares of Caterpillar from $495.00 to $517.00 and gave the company a “buy” rating in a report on Monday, September 22nd. DA Davidson increased their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday. Finally, Evercore ISI upgraded shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective for the company in a research report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and a consensus target price of $466.53.

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.