Invst LLC Takes $229,000 Position in Caterpillar Inc. (NYSE:CAT)

Invst LLC acquired a new position in Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 696 shares of the industrial products company’s stock, valued at approximately $229,000.

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

Caterpillar Trading Down 0.0 %

Shares of NYSE CAT opened at $390.91 on Tuesday. The firm has a market capitalization of $191.18 billion, a PE ratio of 17.65, a PEG ratio of 1.73 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a one year low of $223.76 and a one year high of $397.22. The business has a 50-day moving average price of $347.54 and a two-hundred day moving average price of $346.82.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results 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 analyst estimates of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $5.55 EPS. As a group, analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar declared that its Board of Directors has authorized a share buyback plan on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar 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 sale, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. The disclosure for this sale can be found here. Insiders sold a total of 7,668 shares of company stock worth $2,665,760 in the last three months. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Raymond James began coverage on Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating for the company. UBS Group upped their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Evercore ISI lowered their target price on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Bank of America upped their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday. Finally, 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 objective for the company. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $339.94.

Caterpillar 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.