Crown Wealth Group LLC Reduces Stock Position in Caterpillar Inc. $CAT

Crown Wealth Group LLC decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 841 shares of the industrial products company’s stock after selling 26 shares during the quarter. Crown Wealth Group LLC’s holdings in Caterpillar were worth $326,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CAT. GSB Wealth Management LLC grew its stake in shares of Caterpillar by 1.2% during the 2nd quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock worth $832,000 after purchasing an additional 26 shares during the period. Verum Partners LLC lifted its position in shares of Caterpillar by 2.5% during the 2nd quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock valued at $411,000 after buying an additional 26 shares in the last quarter. Vanguard Capital Wealth Advisors increased its stake in shares of Caterpillar by 0.8% during the second quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock worth $1,388,000 after purchasing an additional 27 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Caterpillar by 2.4% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company’s stock valued at $472,000 after acquiring an additional 29 shares during the last quarter. Finally, McAdam LLC boosted its stake in shares of Caterpillar by 1.6% in the second quarter. McAdam LLC now owns 1,872 shares of the industrial products company’s stock worth $727,000 after acquiring an additional 29 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on CAT. Citigroup reiterated a “buy” rating on shares of Caterpillar in a report on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $500.00 price target on shares of Caterpillar in a research note on Friday, August 29th. Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a report on Monday, July 14th. JPMorgan Chase & Co. increased their price objective on Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Finally, Truist Financial increased their price target on shares of Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $464.33.

Insider Activity at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the firm’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the transaction, the director owned 6,917 shares of the company’s stock, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction that occurred on 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 in the company, valued at $215,289,088.35. The trade was a 3.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,819 shares of company stock valued at $16,885,492 in the last quarter. Insiders own 0.33% of the company’s stock.

Caterpillar Trading Down 1.3%

Shares of CAT opened at $463.76 on Friday. The stock has a 50-day moving average price of $429.93 and a 200 day moving average price of $372.59. Caterpillar Inc. has a one year low of $267.30 and a one year high of $485.34. The company has a market capitalization of $217.26 billion, a P/E ratio of 23.59, a P/E/G ratio of 2.86 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34.

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). The firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.99 EPS. Sell-side analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

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.