Profund Advisors LLC Decreases Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Profund Advisors LLC lessened its stake in Caterpillar Inc. (NYSE:CAT) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,076 shares of the industrial products company’s stock after selling 610 shares during the quarter. Profund Advisors LLC’s holdings in Caterpillar were worth $4,023,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Symmetry Investments LP raised its holdings in shares of Caterpillar by 310.1% during the 2nd quarter. Symmetry Investments LP now owns 28,300 shares of the industrial products company’s stock worth $9,427,000 after acquiring an additional 21,400 shares during the period. Alaethes Wealth LLC raised its stake in Caterpillar by 1.4% during the second quarter. Alaethes Wealth LLC now owns 5,517 shares of the industrial products company’s stock worth $1,838,000 after purchasing an additional 74 shares during the period. Ensign Peak Advisors Inc boosted its holdings in Caterpillar by 1.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 208,187 shares of the industrial products company’s stock valued at $69,347,000 after purchasing an additional 3,780 shares during the last quarter. Asset Management Group Inc. increased its holdings in shares of Caterpillar by 0.6% during the 2nd quarter. Asset Management Group Inc. now owns 11,057 shares of the industrial products company’s stock worth $3,683,000 after buying an additional 63 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. raised its position in shares of Caterpillar by 2.3% during the 2nd quarter. Sompo Asset Management Co. Ltd. now owns 2,710 shares of the industrial products company’s stock valued at $903,000 after buying an additional 60 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $368.82 on Friday. The business has a 50-day simple moving average of $343.68 and a 200-day simple moving average of $344.83. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01. The company has a market cap of $180.37 billion, a PE ratio of 16.65, a P/E/G ratio of 1.56 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The company had revenue of $16.69 billion for 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%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.55 EPS. On average, equities research analysts forecast that Caterpillar Inc. will post 21.88 EPS for the current fiscal year.

Caterpillar declared that its Board of Directors has initiated a stock repurchase program on Wednesday, June 12th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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 stock was acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the transaction, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought 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 directly owns 2,842 shares in the company, valued at $962,272.78. The disclosure for this purchase can be found here. Insiders have sold a total of 7,668 shares of company stock worth $2,665,760 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the subject of several analyst reports. Evercore ISI lowered their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Citigroup assumed coverage on Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price objective for the company. Raymond James started coverage on shares of Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. 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 research report on Wednesday, August 7th. Finally, Barclays increased their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $336.31.

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.