Core Wealth Advisors Inc. Trims Holdings in Caterpillar Inc. (NYSE:CAT)

Core Wealth Advisors Inc. reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 5.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,327 shares of the industrial products company’s stock after selling 474 shares during the period. Caterpillar accounts for about 1.0% of Core Wealth Advisors Inc.’s investment portfolio, making the stock its 13th largest holding. Core Wealth Advisors Inc.’s holdings in Caterpillar were worth $2,774,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Richardson Financial Services Inc. bought a new stake in Caterpillar in the fourth quarter worth $27,000. Thompson Investment Management Inc. bought a new position in Caterpillar in the 1st quarter worth about $27,000. Bbjs Financial Advisors LLC purchased a new stake in Caterpillar during the 2nd quarter valued at about $28,000. Financial Connections Group Inc. bought a new stake in Caterpillar during the 2nd quarter valued at about $28,000. Finally, Fairman Group LLC purchased a new position in Caterpillar in the first quarter worth about $29,000. Institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In related news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the transaction, the insider now directly owns 18,515 shares in the company, valued at $6,480,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the sale, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The disclosure for this sale can be found here. Insiders have sold 7,668 shares of company stock valued at $2,665,760 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CAT. Citigroup initiated coverage on shares of Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. UBS Group increased their target price on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Bank of America decreased their price target on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Barclays increased their price objective on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Evercore ISI decreased their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $336.31.

Caterpillar Stock Down 0.0 %

Shares of CAT stock opened at $390.83 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $397.22. The stock has a market cap of $191.14 billion, a P/E ratio of 17.64, a P/E/G ratio of 1.73 and a beta of 1.10. The company has a 50 day simple moving average of $345.81 and a two-hundred day simple moving average of $345.99.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping the consensus estimate of $5.53 by $0.46. The firm had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. Caterpillar’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $5.55 EPS. On average, research analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar announced that its board has initiated a stock repurchase plan on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

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.