Rockland Trust Co. Has $1.82 Million Position in Caterpillar Inc. (NYSE:CAT)

Rockland Trust Co. cut its holdings in Caterpillar Inc. (NYSE:CAT) by 18.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,640 shares of the industrial products company’s stock after selling 1,041 shares during the quarter. Rockland Trust Co.’s holdings in Caterpillar were worth $1,815,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CAT. Acadian Asset Management LLC raised its holdings in shares of Caterpillar by 17.2% during the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after acquiring an additional 1,327 shares during the period. Diversify Advisory Services LLC bought a new position in Caterpillar during the 1st quarter worth about $926,000. Natixis Advisors LLC raised its stake in shares of Caterpillar by 3.5% in the 2nd quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock valued at $92,688,000 after purchasing an additional 9,321 shares during the period. Bailard Inc. lifted its holdings in shares of Caterpillar by 3.1% in the second quarter. Bailard Inc. now owns 13,435 shares of the industrial products company’s stock valued at $4,475,000 after purchasing an additional 398 shares in the last quarter. Finally, M&G Plc acquired a new position in shares of Caterpillar during the first quarter worth about $15,009,000. 70.98% of the stock is owned by institutional investors.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson bought 100 shares of the stock in a transaction dated 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 owns 2,842 shares in the company, valued at $962,272.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. The disclosure for this sale can be found here. Insiders sold a total of 7,668 shares of company stock worth $2,665,760 over the last quarter. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Down 0.8 %

CAT opened at $391.09 on Friday. 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’s fifty day simple moving average is $350.59 and its 200 day simple moving average is $347.78. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $397.22. The stock has a market cap of $191.26 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping 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 company had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. During the same quarter last year, the company posted $5.55 EPS. Caterpillar’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, research analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar declared that its board has approved a share 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have commented on CAT. Raymond James began coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Bank of America boosted their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday. UBS Group raised their target price 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. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Barclays lifted their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $339.94.

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.