JFS Wealth Advisors LLC Reduces Position in Caterpillar, Inc. (CAT)
JFS Wealth Advisors LLC decreased its holdings in Caterpillar, Inc. (NYSE:CAT) by 2.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,626 shares of the industrial products company’s stock after selling 136 shares during the quarter. JFS Wealth Advisors LLC’s holdings in Caterpillar were worth $497,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. NGAM Advisors L.P. boosted its holdings in shares of Caterpillar by 2.9% in the second quarter. NGAM Advisors L.P. now owns 81,344 shares of the industrial products company’s stock worth $8,742,000 after buying an additional 2,286 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of Caterpillar by 527.0% in the first quarter. Bank of Nova Scotia now owns 196,294 shares of the industrial products company’s stock worth $18,208,000 after buying an additional 164,989 shares during the last quarter. Bancorpsouth Inc. boosted its holdings in shares of Caterpillar by 1.2% in the first quarter. Bancorpsouth Inc. now owns 5,787 shares of the industrial products company’s stock worth $537,000 after buying an additional 69 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Caterpillar in the first quarter worth approximately $46,917,000. Finally, State of Tennessee Treasury Department boosted its holdings in shares of Caterpillar by 58.4% in the first quarter. State of Tennessee Treasury Department now owns 288,338 shares of the industrial products company’s stock worth $26,746,000 after buying an additional 106,270 shares during the last quarter. 69.23% of the stock is currently owned by institutional investors.
Shares of Caterpillar, Inc. (CAT) opened at 119.63 on Thursday. The stock’s 50 day moving average is $115.20 and its 200-day moving average is $104.28. The stock has a market capitalization of $70.70 billion, a price-to-earnings ratio of 668.32 and a beta of 1.24. Caterpillar, Inc. has a 52 week low of $80.23 and a 52 week high of $121.39.
Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The business had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same period last year, the company earned $1.09 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts anticipate that Caterpillar, Inc. will post $5.24 earnings per share for the current fiscal year.
In related news, insider Suzette M. Long sold 13,859 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the completion of the sale, the insider now directly owns 18,188 shares of the company’s stock, valued at approximately $2,078,888.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William A. Osborn sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $113.67, for a total value of $568,350.00. The disclosure for this sale can be found here. Insiders have sold a total of 201,471 shares of company stock valued at $22,979,332 over the last three months. Corporate insiders own 0.15% of the company’s stock.
A number of research firms have commented on CAT. Vetr cut shares of Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 target price on the stock. in a research note on Monday. BMO Capital Markets restated a “buy” rating and set a $130.00 target price on shares of Caterpillar in a research note on Friday, September 8th. Seaport Global Securities began coverage on shares of Caterpillar in a research note on Wednesday, September 6th. They set a “neutral” rating and a $120.00 target price on the stock. ValuEngine upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Jefferies Group LLC restated a “hold” rating and set a $100.00 target price on shares of Caterpillar in a research note on Tuesday, August 29th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $110.79.
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