Perkins Coie Trust Co Has $2.49 Million Stake in Caterpillar Inc. (NYSE:CAT)

Perkins Coie Trust Co grew its stake in Caterpillar Inc. (NYSE:CAT) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,361 shares of the industrial products company’s stock after purchasing an additional 83 shares during the period. Perkins Coie Trust Co’s holdings in Caterpillar were worth $2,488,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Personal CFO Solutions LLC boosted its position in shares of Caterpillar by 13.1% during the 4th quarter. Personal CFO Solutions LLC now owns 1,419 shares of the industrial products company’s stock valued at $420,000 after acquiring an additional 164 shares in the last quarter. Regal Investment Advisors LLC boosted its position in shares of Caterpillar by 4.9% during the 4th quarter. Regal Investment Advisors LLC now owns 3,824 shares of the industrial products company’s stock valued at $1,131,000 after acquiring an additional 179 shares in the last quarter. Visionary Wealth Advisors boosted its position in shares of Caterpillar by 3.2% during the 4th quarter. Visionary Wealth Advisors now owns 3,295 shares of the industrial products company’s stock valued at $974,000 after acquiring an additional 101 shares in the last quarter. MGO One Seven LLC boosted its position in shares of Caterpillar by 5.9% during the 4th quarter. MGO One Seven LLC now owns 9,907 shares of the industrial products company’s stock valued at $2,929,000 after acquiring an additional 552 shares in the last quarter. Finally, BOKF NA boosted its position in shares of Caterpillar by 1.0% during the 4th quarter. BOKF NA now owns 33,886 shares of the industrial products company’s stock valued at $10,019,000 after acquiring an additional 326 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAT has been the topic of several recent research reports. Citigroup initiated coverage on shares of Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price on the stock. Bank of America lifted their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Evercore ISI cut their price target 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. UBS Group lifted their price target on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Finally, Barclays lifted their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Two investment 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $339.94.

Insider Activity at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of the firm’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 completion of the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated 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 acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 7,668 shares of company stock worth $2,665,760. 0.33% of the stock is currently owned by company insiders.

Caterpillar Trading Up 1.1 %

Shares of CAT traded up $4.20 on Wednesday, reaching $392.16. 348,754 shares of the company’s stock were exchanged, compared to its average volume of 2,652,213. 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 stock has a market capitalization of $191.79 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. The business has a 50 day moving average price of $352.59 and a two-hundred day moving average price of $348.22. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $401.17.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results 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 business had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. Caterpillar’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.55 earnings per share. Research analysts anticipate that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar declared that its board has authorized a stock buyback plan on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are 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.