Sax Wealth Advisors LLC Acquires 1,066 Shares of Caterpillar Inc. $CAT

Sax Wealth Advisors LLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 24.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,430 shares of the industrial products company’s stock after purchasing an additional 1,066 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Caterpillar were worth $4,403,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CAT. BlackRock Inc. purchased a new stake in Caterpillar during the 2nd quarter worth approximately $40,457,153,000. Bank of America Corp DE purchased a new position in Caterpillar in the 2nd quarter valued at approximately $5,818,150,000. Diamant Asset Management Inc. grew its stake in shares of Caterpillar by 68,427.2% in the first quarter. Diamant Asset Management Inc. now owns 3,140,603 shares of the industrial products company’s stock worth $2,224,992,000 after acquiring an additional 3,136,020 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Caterpillar in the second quarter worth $3,192,710,000. Finally, Legal & General Group Plc acquired a new position in shares of Caterpillar in the second quarter worth $2,783,451,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In other Caterpillar news, CEO Joseph E. Creed sold 32,401 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $808.98, for a total value of $26,211,760.98. Following the sale, the chief executive officer directly owned 34,555 shares in the company, valued at $27,954,303.90. This trade represents a 48.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CAT. JPMorgan Chase & Co. increased their price objective on Caterpillar from $1,125.00 to $1,165.00 and gave the company an “overweight” rating in a research note on Wednesday, June 17th. Wall Street Zen raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday. Citigroup lowered their target price on Caterpillar from $1,100.00 to $950.00 and set a “buy” rating for the company in a research note on Monday. Zacks Research downgraded Caterpillar from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Finally, Robert W. Baird set a $970.00 price target on Caterpillar in a research report on Wednesday, August 5th. Fifteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $982.92.

Caterpillar Stock Down 4.8%

Shares of NYSE:CAT traded down $38.50 during trading hours on Tuesday, reaching $760.87. The stock had a trading volume of 1,848,988 shares, compared to its average volume of 2,805,360. Caterpillar Inc. has a 1 year low of $499.01 and a 1 year high of $1,073.46. The firm’s 50 day moving average is $821.64 and its 200-day moving average is $855.26. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 1.37. The stock has a market capitalization of $349.75 billion, a price-to-earnings ratio of 32.71, a P/E/G ratio of 1.38 and a beta of 1.58.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share for the quarter, beating analysts’ consensus estimates of $6.22 by $1.95. The business had revenue of $20.54 billion for the quarter, compared to analyst estimates of $19.34 billion. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The company’s revenue was up 23.7% on a year-over-year basis. During the same period last year, the business earned $4.72 EPS. Research analysts predict that Caterpillar Inc. will post 27.49 earnings per share for the current fiscal year.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its products are used in infrastructure development, construction, mining, energy production, transportation, agriculture, forestry, and other industrial applications.

The company markets equipment and related services through a worldwide network of independent dealers. Its operations are generally organized around Construction Industries, Resource Industries, and Energy & Transportation.