Carson Advisory Inc. Has $820,000 Stake in Caterpillar Inc. (NYSE:CAT)

Carson Advisory Inc. lowered its position in Caterpillar Inc. (NYSE:CAT) by 13.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,461 shares of the industrial products company’s stock after selling 392 shares during the quarter. Carson Advisory Inc.’s holdings in Caterpillar were worth $820,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Coldstream Capital Management Inc. increased its position in Caterpillar by 13.7% during the second quarter. Coldstream Capital Management Inc. now owns 25,040 shares of the industrial products company’s stock worth $8,341,000 after buying an additional 3,021 shares during the last quarter. Eubel Brady & Suttman Asset Management Inc. increased its holdings in shares of Caterpillar by 34.8% during the 2nd quarter. Eubel Brady & Suttman Asset Management Inc. now owns 953 shares of the industrial products company’s stock worth $318,000 after acquiring an additional 246 shares during the last quarter. Gryphon Financial Partners LLC raised its stake in Caterpillar by 29.8% in the 2nd quarter. Gryphon Financial Partners LLC now owns 1,877 shares of the industrial products company’s stock valued at $625,000 after acquiring an additional 431 shares during the period. Malaga Cove Capital LLC lifted its holdings in Caterpillar by 2.2% during the 2nd quarter. Malaga Cove Capital LLC now owns 14,947 shares of the industrial products company’s stock valued at $4,979,000 after purchasing an additional 324 shares during the last quarter. Finally, Van Hulzen Asset Management LLC boosted its position in Caterpillar by 13.2% during the second quarter. Van Hulzen Asset Management LLC now owns 1,803 shares of the industrial products company’s stock worth $601,000 after purchasing an additional 210 shares during the period. Institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now owns 2,842 shares in the company, valued at $962,272.78. The disclosure for this purchase can be found here. Insiders have sold 7,668 shares of company stock valued at $2,665,760 over the last ninety days. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CAT has been the subject of a number of research reports. Bank of America cut their target price on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. Barclays increased their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Citigroup began coverage on Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target for the company. Finally, Raymond James initiated coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $336.31.

Caterpillar Stock Performance

NYSE CAT opened at $334.14 on Wednesday. The firm’s 50 day simple moving average is $340.09 and its 200 day simple moving average is $343.78. The firm has a market capitalization of $162.02 billion, a price-to-earnings ratio of 15.09, a P/E/G ratio of 1.54 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter last year, the business posted $5.55 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. As a group, research analysts expect that Caterpillar Inc. will post 21.87 earnings per share for the current fiscal year.

Caterpillar declared that its board has approved a stock repurchase plan on Wednesday, June 12th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

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.