Farther Finance Advisors LLC Raises Stock Holdings in Caterpillar Inc. $CAT

Farther Finance Advisors LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 8.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,842 shares of the industrial products company's stock after buying an additional 999 shares during the quarter. Farther Finance Advisors LLC's holdings in Caterpillar were worth $4,985,000 at the end of the most recent reporting period.

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A number of other institutional investors also recently bought and sold shares of the company. Family Legacy Financial Solutions LLC acquired a new stake in Caterpillar in the 2nd quarter valued at about $32,000. Compass Financial Services Inc lifted its stake in Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 31 shares during the last quarter. Mattson Financial Services LLC bought a new position in shares of Caterpillar in the fourth quarter worth $39,000. Curat Global LLC acquired a new position in Caterpillar during the 1st quarter worth about $33,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Caterpillar during the first quarter valued at about $33,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

Shares of CAT opened at $466.62 on Friday. The stock has a market capitalization of $218.60 billion, a P/E ratio of 23.73, a P/E/G ratio of 2.84 and a beta of 1.41. The firm's 50 day moving average is $425.21 and its 200-day moving average is $369.34. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $472.12.

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Caterpillar (NYSE:CAT - Get Free Report) last posted 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). 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 in the prior year, the company posted $5.99 earnings per share. Caterpillar's quarterly revenue was down .7% on a year-over-year basis. Equities research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jason Kaiser sold 2,161 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. The trade was a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,653 shares of company stock worth $8,943,642 in the last quarter. Corporate insiders own 0.33% of the company's stock.

Analyst Ratings Changes

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Several equities analysts have recently issued reports on the stock. Oppenheimer lowered their target price on shares of Caterpillar from $493.00 to $480.00 and set an "outperform" rating for the company in a report on Friday, August 29th. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price on the stock in a research report on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Barclays lifted their target price on Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Finally, Bank of America boosted their price target on Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $460.20.

Check Out Our Latest Stock Analysis on CAT

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.

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