First Affirmative Financial Network Cuts Holdings in Caterpillar Inc. (NYSE:CAT)

First Affirmative Financial Network lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 7.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 985 shares of the industrial products company’s stock after selling 80 shares during the quarter. First Affirmative Financial Network’s holdings in Caterpillar were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Horan Securities Inc. raised its position in Caterpillar by 678.6% in the 1st quarter. Horan Securities Inc. now owns 109 shares of the industrial products company’s stock worth $25,000 after buying an additional 95 shares during the last quarter. West Financial Advisors LLC bought a new position in Caterpillar during the second quarter valued at approximately $25,000. Atlas Capital Advisors LLC boosted its holdings in Caterpillar by 272.4% in the first quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 79 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in Caterpillar by 730.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 95 shares during the period. Finally, TFC Financial Management Inc. raised its stake in Caterpillar by 470.8% during the 1st quarter. TFC Financial Management Inc. now owns 137 shares of the industrial products company’s stock valued at $31,000 after buying an additional 113 shares during the last quarter. 69.20% of the stock is owned by institutional investors.

Caterpillar Trading Down 1.2 %

Shares of CAT stock opened at $279.15 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 1.26. Caterpillar Inc. has a 12-month low of $160.60 and a 12-month high of $293.88. The stock’s 50-day moving average price is $272.99 and its 200-day moving average price is $242.34. The stock has a market capitalization of $142.39 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 1.16 and a beta of 1.13.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $5.55 EPS for the quarter, beating analysts’ consensus estimates of $4.57 by $0.98. Caterpillar had a return on equity of 55.93% and a net margin of 12.91%. The firm had revenue of $17.30 billion during the quarter, compared to the consensus estimate of $16.46 billion. During the same period in the prior year, the company earned $3.18 EPS. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. Equities research analysts predict that Caterpillar Inc. will post 19.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other Caterpillar news, insider Lange Bob De sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $275.00, for a total transaction of $5,500,000.00. Following the sale, the insider now directly owns 53,671 shares in the company, valued at $14,759,525. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Anthony D. Fassino sold 2,923 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $279.00, for a total transaction of $815,517.00. Following the transaction, the insider now directly owns 16,182 shares in the company, valued at approximately $4,514,778. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lange Bob De sold 20,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $275.00, for a total transaction of $5,500,000.00. Following the completion of the sale, the insider now directly owns 53,671 shares in the company, valued at $14,759,525. The disclosure for this sale can be found here. Insiders sold 54,918 shares of company stock valued at $15,299,870 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the subject of several research analyst reports. Tigress Financial lifted their price objective on Caterpillar from $266.00 to $282.00 in a report on Wednesday, May 31st. Wells Fargo & Company upped their price target on shares of Caterpillar from $240.00 to $285.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 2nd. JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $275.00 to $315.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. DA Davidson assumed coverage on shares of Caterpillar in a report on Wednesday, June 21st. They set a “neutral” rating and a $263.00 target price for the company. Finally, Robert W. Baird lifted their price target on shares of Caterpillar from $183.00 to $234.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $267.00.

Caterpillar Profile

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.