XTX Topco Ltd Takes Position in Caterpillar Inc. (NYSE:CAT)

XTX Topco Ltd bought a new position in Caterpillar Inc. (NYSE:CAT) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 11,453 shares of the industrial products company’s stock, valued at approximately $3,815,000. Caterpillar accounts for about 0.3% of XTX Topco Ltd’s holdings, making the stock its 22nd largest holding.

A number of other institutional investors have also bought and sold shares of the business. Thompson Investment Management Inc. purchased a new stake in shares of Caterpillar during the first quarter worth about $27,000. Fairman Group LLC purchased a new stake in Caterpillar during the 1st quarter valued at approximately $29,000. Bbjs Financial Advisors LLC bought a new stake in shares of Caterpillar during the second quarter valued at approximately $28,000. Financial Connections Group Inc. bought a new position in shares of Caterpillar during the second quarter worth $28,000. Finally, Richardson Financial Services Inc. purchased a new position in Caterpillar during the fourth quarter valued at $27,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Caterpillar stock opened at $355.13 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The firm has a market capitalization of $173.68 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01. The company’s 50-day moving average is $342.17 and its 200 day moving average is $344.34.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $16.91 billion. During the same period last year, the company earned $5.55 EPS. Caterpillar’s quarterly revenue was down 3.6% compared to the same quarter last year. Research analysts forecast that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar announced that its board has authorized a share buyback program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Raymond James initiated coverage on shares of Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Bank of America decreased their target price on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Evercore ISI decreased their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, UBS Group raised their target price on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Hold” and an average target price of $336.31.

Insider Transactions at Caterpillar

In related news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction on 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerald Johnson bought 100 shares of the stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 7,668 shares of company stock worth $2,665,760. Insiders own 0.33% of the company’s stock.

Caterpillar Company Profile

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.