Caterpillar Inc. (NYSE:CAT) Shares Bought by Modus Advisors LLC

Modus Advisors LLC boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 7.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,057 shares of the industrial products company’s stock after purchasing an additional 804 shares during the quarter. Caterpillar makes up approximately 1.5% of Modus Advisors LLC’s holdings, making the stock its 25th largest holding. Modus Advisors LLC’s holdings in Caterpillar were worth $4,716,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board lifted its position in shares of Caterpillar by 306.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after buying an additional 307,479 shares during the last quarter. Altshuler Shaham Ltd increased its position in Caterpillar by 3,319.7% in the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after buying an additional 266,969 shares during the period. Swedbank AB acquired a new position in shares of Caterpillar during the first quarter valued at $97,042,000. Capital International Investors grew its position in shares of Caterpillar by 99.9% during the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock worth $179,060,000 after acquiring an additional 244,253 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in Caterpillar by 104.6% in the 2nd quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock valued at $128,768,000 after purchasing an additional 200,134 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, for a total transaction 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. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Cheryl H. Johnson sold 2,975 shares of the company’s 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased 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 of the company’s stock, valued at $962,272.78. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 7,668 shares of company stock worth $2,665,760. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Trading Down 0.2 %

Shares of CAT stock traded down $0.87 on Thursday, reaching $395.32. The company had a trading volume of 483,676 shares, compared to its average volume of 2,649,003. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $401.17. 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 cap of $193.33 billion, a PE ratio of 17.86, a PEG ratio of 1.73 and a beta of 1.10. The company has a 50-day moving average of $354.51 and a 200-day moving average of $348.77.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same period last year, the company posted $5.55 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities analysts forecast that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 12th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.43%. Caterpillar’s payout ratio is presently 25.46%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CAT shares. Bank of America lifted their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Citigroup increased their price target on Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS Group upped their target price on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Raymond James began coverage on shares of Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $347.56.

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.