Osher Van de Voorde Investment Management Makes New Investment in Caterpillar Inc. (NYSE:CAT)

Osher Van de Voorde Investment Management bought a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 600 shares of the industrial products company’s stock, valued at approximately $235,000.

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

Insider Buying and Selling at Caterpillar

In related news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, 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 transaction of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gerald Johnson bought 100 shares of the stock in a transaction dated Wednesday, September 4th. The shares were acquired 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 of the company’s stock, valued at approximately $962,272.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is currently owned by company insiders.

Caterpillar Price Performance

CAT stock opened at $387.90 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The firm’s 50-day moving average price is $352.59 and its two-hundred day moving average price is $348.22. The stock has a market capitalization of $189.70 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 1.73 and a beta of 1.10. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $401.17.

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 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 business’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $5.55 EPS. As a group, equities analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar declared that its board has initiated a stock repurchase plan on Wednesday, June 12th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on CAT. Evercore ISI reduced their target price on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Raymond James assumed coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Citigroup started coverage on Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. UBS Group lifted 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. Finally, Barclays increased their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.