Caterpillar Inc. $CAT Shares Sold by Gateway Investment Advisers LLC

by · The Cerbat Gem

Gateway Investment Advisers LLC reduced its position in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 0.1% during the second quarter, Holdings Channel.com reports. The fund owned 156,967 shares of the industrial products company’s stock after selling 114 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Caterpillar were worth $60,936,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Investment Management Corp VA ADV purchased a new position in Caterpillar in the 4th quarter worth about $33,000. Compass Financial Services Inc grew its stake in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 31 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in Caterpillar during the 4th quarter valued at about $36,000. Mattson Financial Services LLC purchased a new position in Caterpillar during the 4th quarter valued at about $39,000. Finally, Curat Global LLC purchased a new position in Caterpillar during the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 2,161 shares of the business’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 directly owned 8,632 shares in the company, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the sale, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,653 shares of company stock worth $8,943,642 in the last ninety days. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CAT. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a research note on Monday, July 14th. Citigroup lifted their price target on Caterpillar from $460.00 to $500.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Bank of America lifted their price target on Caterpillar from $460.00 to $495.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. Finally, Robert W. Baird reduced their price target on Caterpillar from $500.00 to $495.00 and set an “outperform” rating for the company in a report on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $457.20.

View Our Latest Stock Analysis on CAT

Caterpillar Trading Up 1.1%

NYSE CAT opened at $440.66 on Wednesday. The firm has a market cap of $206.44 billion, a P/E ratio of 22.41, a P/E/G ratio of 2.65 and a beta of 1.41. 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 stock’s 50-day moving average is $421.85 and its 200-day moving average is $366.65. Caterpillar Inc. has a one year low of $267.30 and a one year high of $441.15.

Caterpillar (NYSE:CAT – Get Free Report) last released its earnings results 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 firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.99 EPS. Sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

About Caterpillar

(Free Report)

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.

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