Joule Financial LLC Has $403,000 Stock Position in Caterpillar Inc. $CAT

Joule Financial LLC lessened its stake in Caterpillar Inc. (NYSE:CAT) by 10.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,037 shares of the industrial products company’s stock after selling 119 shares during the quarter. Joule Financial LLC’s holdings in Caterpillar were worth $403,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Compass Financial Services Inc increased its position in Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after buying an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC bought a new position in shares of Caterpillar during the 2nd quarter worth approximately $32,000. Redmont Wealth Advisors LLC acquired a new position in shares of Caterpillar during the 1st quarter worth approximately $33,000. Fiduciary Wealth Partners LLC bought a new stake in Caterpillar in the 1st quarter valued at $45,000. Finally, Maseco LLP acquired a new stake in Caterpillar during the 2nd quarter valued at $45,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup reissued a “buy” rating on shares of Caterpillar in a research report on Tuesday, September 23rd. Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target on the stock in a report on Tuesday, August 19th. JPMorgan Chase & Co. boosted their price objective on Caterpillar from $475.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. Robert W. Baird increased their target price on Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Finally, Barclays boosted their price target on Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $466.53.

Caterpillar Trading Up 1.6%

Shares of Caterpillar stock opened at $498.48 on Monday. 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 12-month low of $267.30 and a 12-month high of $504.48. The company has a market capitalization of $233.53 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 3.03 and a beta of 1.46. The firm’s 50-day moving average price is $436.99 and its two-hundred day moving average price is $379.06.

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

Insider Activity

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the sale, the chairman directly owned 482,505 shares in the company, valued at $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,819 shares of company stock worth $16,885,492. Insiders own 0.33% of the company’s stock.

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.