Chapin Davis Inc. Has $2.80 Million Stock Position in Caterpillar Inc. (NYSE:CAT)

Chapin Davis Inc. trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 14.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,170 shares of the industrial products company’s stock after selling 1,243 shares during the period. Caterpillar makes up 0.9% of Chapin Davis Inc.’s investment portfolio, making the stock its 23rd largest holding. Chapin Davis Inc.’s holdings in Caterpillar were worth $2,804,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CAT. Vanguard Group Inc. boosted its position 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 worth $14,296,641,000 after purchasing an additional 129,216 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Caterpillar by 2.2% in the 4th quarter. Fisher Asset Management LLC now owns 8,139,040 shares of the industrial products company’s stock worth $2,406,471,000 after purchasing an additional 173,108 shares in the last quarter. Legal & General Group Plc grew its position in Caterpillar by 2.0% in the 2nd 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 purchasing an additional 75,973 shares during the period. Dimensional Fund Advisors LP raised its holdings in Caterpillar by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after buying an additional 165,358 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Caterpillar by 10.4% during the second quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after buying an additional 198,123 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insiders Place Their Bets

In related news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. This represents a 0.00 % decrease in their ownership of the stock. 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 quarter. 0.33% of the stock is owned by company insiders.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $398.12 on Tuesday. The firm has a market capitalization of $194.70 billion, a PE ratio of 17.97, a P/E/G ratio of 1.73 and a beta of 1.10. 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 company has a 50-day moving average price of $351.52 and a two-hundred day moving average price of $347.99. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $401.17.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. During the same quarter in the previous year, the firm posted $5.55 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts forecast that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar declared that its Board of Directors has approved a stock buyback program on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Barclays lifted their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Bank of America upped their price target on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. 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 downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Citigroup initiated coverage on shares of Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Caterpillar has an average rating of “Hold” and an average target price of $339.94.

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.