Altrius Capital Management Inc Raises Holdings in Caterpillar Inc. (NYSE:CAT)

Altrius Capital Management Inc increased its position in Caterpillar Inc. (NYSE:CAT) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,772 shares of the industrial products company’s stock after buying an additional 318 shares during the period. Altrius Capital Management Inc’s holdings in Caterpillar were worth $4,588,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. purchased a new position in shares of Caterpillar in the first quarter valued at $27,000. Fairman Group LLC purchased a new position in shares of Caterpillar in the 1st quarter worth $29,000. Bbjs Financial Advisors LLC bought a new stake in shares of Caterpillar in the 2nd quarter worth about $28,000. Financial Connections Group Inc. purchased a new stake in shares of Caterpillar during the 2nd quarter valued at about $28,000. Finally, Richardson Financial Services Inc. purchased a new position in Caterpillar in the fourth quarter worth about $27,000. 70.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. UBS Group raised their price objective on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Bank of America reduced their target price on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Citigroup started coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target for the company. Finally, Evercore ISI decreased their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $336.31.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar 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 transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 7,668 shares of company stock valued at $2,665,760. Company insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 0.4 %

Shares of NYSE CAT opened at $355.13 on Thursday. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01. The firm has a market cap of $173.68 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. The business has a fifty day simple moving average of $342.17 and a two-hundred day simple moving average of $344.34. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $16.91 billion. During the same period in the previous year, the company posted $5.55 earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. Analysts expect that Caterpillar Inc. will post 21.88 earnings per share for the current fiscal year.

Caterpillar announced that its board has approved a share buyback plan on Wednesday, June 12th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is 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.