3Chopt Investment Partners LLC Acquires Shares of 869 Caterpillar Inc. (NYSE:CAT)

3Chopt Investment Partners LLC bought a new position in Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 869 shares of the industrial products company’s stock, valued at approximately $289,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Caterpillar by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock valued at $14,296,641,000 after acquiring an additional 129,216 shares during the last quarter. Capital World Investors lifted its holdings in shares of Caterpillar by 0.3% during the 4th quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock valued at $8,583,372,000 after buying an additional 96,479 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Caterpillar by 2.2% in the fourth quarter. Fisher Asset Management LLC now owns 8,139,040 shares of the industrial products company’s stock worth $2,406,471,000 after acquiring an additional 173,108 shares during the period. Legal & General Group Plc lifted its holdings in Caterpillar by 2.0% in the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after acquiring an additional 75,973 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Caterpillar by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after purchasing an additional 165,358 shares during the period. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Raymond James started coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. UBS Group upped their target price on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Bank of America upped their price objective on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday. Barclays lifted their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Finally, StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $339.94.

Insider Activity at Caterpillar

In related news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, 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 the SEC website. In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were acquired 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 owns 2,842 shares of the company’s stock, valued at $962,272.78. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the transaction, the insider now directly owns 18,515 shares in the company, valued at $6,480,250. The disclosure for this sale can be found here. Insiders have sold a total of 7,668 shares of company stock valued at $2,665,760 over the last ninety days. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Up 0.3 %

Shares of NYSE:CAT opened at $392.40 on Wednesday. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $397.22. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The business’s 50 day moving average is $348.50 and its 200 day moving average is $347.14. The stock has a market cap of $191.90 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10.

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, topping analysts’ consensus estimates of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.55 earnings per share. Sell-side analysts predict that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 12th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board 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.