Symmetry Investments LP Raises Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Symmetry Investments LP grew its position in Caterpillar Inc. (NYSE:CAT) by 310.1% during the second quarter, Holdings Channel reports. The firm owned 28,300 shares of the industrial products company’s stock after acquiring an additional 21,400 shares during the period. Caterpillar makes up approximately 1.1% of Symmetry Investments LP’s portfolio, making the stock its 22nd largest position. Symmetry Investments LP’s holdings in Caterpillar were worth $9,427,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Caterpillar

In other news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total transaction of $527,800.00. Following the transaction, the insider now owns 18,515 shares in the company, valued at approximately $6,480,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the completion of the sale, the insider now directly owns 18,515 shares in the company, valued at $6,480,250. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the transaction, the insider now owns 15,615 shares in the company, valued at $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 in the last three months. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CAT has been the topic of a number of analyst reports. Citigroup began coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 price objective on the stock. UBS Group lifted their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Barclays raised 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. Evercore ISI cut their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Raymond James began coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $336.31.

Caterpillar Stock Performance

CAT opened at $368.85 on Friday. The firm has a market capitalization of $180.39 billion, a PE ratio of 16.65, a PEG ratio of 1.56 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01. The firm’s 50-day moving average price is $343.68 and its 200 day moving average price is $344.75.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same period in the prior year, the business earned $5.55 earnings per share. The business’s revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts expect that Caterpillar Inc. will post 21.88 EPS for the current fiscal year.

Caterpillar announced that its board has approved a share buyback 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 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.