Moss Adams Wealth Advisors LLC Cuts Holdings in Caterpillar Inc. $CAT

Moss Adams Wealth Advisors LLC decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 23.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 912 shares of the industrial products company’s stock after selling 285 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Caterpillar were worth $354,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Caterpillar by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock worth $26,037,000 after acquiring an additional 7,125 shares in the last quarter. Ransom Advisory Ltd purchased a new position in shares of Caterpillar during the first quarter valued at approximately $427,000. Charles Schwab Investment Management Inc. boosted its position in shares of Caterpillar by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock valued at $1,089,798,000 after buying an additional 15,347 shares during the period. Heartwood Wealth Advisors LLC boosted its position in shares of Caterpillar by 4.2% during the second quarter. Heartwood Wealth Advisors LLC now owns 2,975 shares of the industrial products company’s stock valued at $1,155,000 after buying an additional 121 shares during the period. Finally, Fiduciary Financial Group LLC boosted its position in shares of Caterpillar by 81.2% during the second quarter. Fiduciary Financial Group LLC now owns 1,913 shares of the industrial products company’s stock valued at $748,000 after buying an additional 857 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the transaction, the director directly owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the business’s stock in a transaction 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 transaction, the chairman owned 465,339 shares in the company, valued at approximately $215,289,088.35. This trade represents a 3.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,819 shares of company stock valued at $16,885,492 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $471.68 on Tuesday. The company has a market capitalization of $220.97 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 2.83 and a beta of 1.41. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $485.34. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The firm has a 50 day moving average of $432.21 and a 200 day moving average of $374.91.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The business had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned $5.99 EPS. On average, sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price for the company in a research report on Tuesday, August 19th. Oppenheimer boosted their target price on Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a research report on Monday. Citigroup reiterated a “buy” rating on shares of Caterpillar in a report on Tuesday, September 23rd. Jefferies Financial Group reiterated a “buy” rating and issued a $500.00 price target on shares of Caterpillar in a report on Friday, August 29th. Finally, Truist Financial boosted their price target on Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Two investment 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $466.53.

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.