Pacer Advisors Inc. Boosts Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Pacer Advisors Inc. lifted its holdings in Caterpillar Inc. (NYSE:CAT) by 7.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 45,106 shares of the industrial products company’s stock after purchasing an additional 3,211 shares during the period. Pacer Advisors Inc.’s holdings in Caterpillar were worth $15,025,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Thompson Investment Management Inc. bought a new stake in Caterpillar during the 1st quarter valued at $27,000. Fairman Group LLC bought a new stake in Caterpillar during the first quarter valued at about $29,000. Bbjs Financial Advisors LLC bought a new position in Caterpillar in the second quarter worth about $28,000. Financial Connections Group Inc. purchased a new stake in shares of Caterpillar during the second quarter valued at about $28,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of Caterpillar in the 4th quarter valued at about $27,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Performance

Shares of CAT opened at $368.82 on Monday. The stock has a 50-day moving average of $343.68 and a two-hundred day moving average of $344.90. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The stock has a market cap of $180.37 billion, a P/E ratio of 16.65, a P/E/G ratio of 1.56 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.46. The business had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.55 EPS. As a group, research analysts predict that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar declared that its Board of Directors has authorized a stock buyback plan on Wednesday, June 12th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the industrial products company to reacquire up to 12.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value 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 approximately $11,750,181.12. The disclosure for this sale can be found here. Insiders sold a total of 7,668 shares of company stock valued at $2,665,760 in the last quarter. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CAT has been the subject of several recent analyst reports. Bank of America reduced their price objective on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. UBS Group boosted their target price on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Citigroup initiated coverage on Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target for the company. Finally, Evercore ISI dropped their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $336.31.

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.