Sandy Cove Advisors LLC Lowers Stock Holdings in Caterpillar Inc. $CAT

Sandy Cove Advisors LLC trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 6.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,232 shares of the industrial products company’s stock after selling 89 shares during the quarter. Sandy Cove Advisors LLC’s holdings in Caterpillar were worth $478,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB lifted its stake in Caterpillar by 2.9% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 59,158 shares of the industrial products company’s stock worth $22,966,000 after purchasing an additional 1,641 shares during the last quarter. Everpar Advisors LLC lifted its stake in Caterpillar by 14.7% in the second quarter. Everpar Advisors LLC now owns 1,594 shares of the industrial products company’s stock valued at $619,000 after buying an additional 204 shares during the last quarter. Dover Advisors LLC lifted its stake in Caterpillar by 7.3% in the second quarter. Dover Advisors LLC now owns 1,012 shares of the industrial products company’s stock valued at $393,000 after buying an additional 69 shares during the last quarter. Braun Bostich & Associates Inc. lifted its stake in Caterpillar by 4.9% in the second quarter. Braun Bostich & Associates Inc. now owns 1,325 shares of the industrial products company’s stock valued at $514,000 after buying an additional 62 shares during the last quarter. Finally, Adamsbrown Wealth Consultants LLC purchased a new stake in Caterpillar in the second quarter valued at approximately $415,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the transaction, the chairman directly owned 482,505 shares in the company, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,653 shares of company stock worth $8,943,642. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CAT has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price objective on Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. Oppenheimer dropped their target price on Caterpillar from $493.00 to $480.00 and set an “outperform” rating on the stock in a report on Friday, August 29th. Evercore ISI raised Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price on the stock in a report on Tuesday, August 19th. DA Davidson boosted their target price on Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Finally, Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus target price of $457.20.

Caterpillar Stock Up 1.0%

Shares of NYSE:CAT opened at $435.62 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $441.15. The stock’s fifty day simple moving average is $420.93 and its 200-day simple moving average is $366.13. The company has a market capitalization of $204.08 billion, a P/E ratio of 22.16, a P/E/G ratio of 2.62 and a beta of 1.41.

Caterpillar (NYSE:CAT) last issued 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 company had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. During the same quarter in the prior year, the company earned $5.99 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. As a group, equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

About Caterpillar

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.