Iowa State Bank Decreases Stock Holdings in Caterpillar Inc. $CAT

Iowa State Bank lowered its stake in Caterpillar Inc. (NYSE:CAT) by 22.6% during the second quarter, Holdings Channel.com reports. The fund owned 9,456 shares of the industrial products company’s stock after selling 2,764 shares during the quarter. Iowa State Bank’s holdings in Caterpillar were worth $3,671,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CAT. Family Legacy Financial Solutions LLC purchased a new stake in Caterpillar during the 2nd quarter worth approximately $32,000. Compass Financial Services Inc increased its position in shares of 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 purchasing an additional 31 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in Caterpillar in the 1st quarter valued at $33,000. Maseco LLP acquired a new stake in Caterpillar during the 2nd quarter worth $45,000. Finally, Park Place Capital Corp grew its holdings in shares of Caterpillar by 47.6% during the second quarter. Park Place Capital Corp now owns 124 shares of the industrial products company’s stock worth $48,000 after buying an additional 40 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Price Performance

NYSE:CAT opened at $498.48 on Monday. The company has a market capitalization of $233.53 billion, a P/E ratio of 25.35, a P/E/G ratio of 3.03 and a beta of 1.46. 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 $504.48. The stock’s fifty day moving average is $436.99 and its two-hundred day moving average is $379.06.

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). The company had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the firm posted $5.99 earnings per share. Equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the sale, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 38,819 shares of company stock valued at $16,885,492. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the topic of several research reports. DA Davidson raised their price target on shares of Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday. Citigroup reaffirmed a “buy” rating on shares of Caterpillar in a report on Tuesday, September 23rd. Sanford C. Bernstein reissued a “market perform” rating on shares of Caterpillar in a research note on Monday, July 14th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $500.00 price target on shares of Caterpillar in a report on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $466.53.

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.