Caterpillar Inc. (NYSE:CAT) Shares Bought by ProVise Management Group LLC

ProVise Management Group LLC raised its position in Caterpillar Inc. (NYSE:CAT) by 36.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,208 shares of the industrial products company’s stock after purchasing an additional 324 shares during the period. ProVise Management Group LLC’s holdings in Caterpillar were worth $402,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CAT. Acadian Asset Management LLC lifted its position in shares of Caterpillar by 17.2% in the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after acquiring an additional 1,327 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Caterpillar in the first quarter valued at $926,000. Natixis Advisors LLC lifted its position in shares of Caterpillar by 3.5% in the second quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock valued at $92,688,000 after acquiring an additional 9,321 shares in the last quarter. Bailard Inc. lifted its position 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 acquiring an additional 398 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new stake in shares of Caterpillar in the fourth quarter valued at $222,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CAT. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. UBS Group increased 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. Raymond James initiated coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Citigroup initiated coverage on Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price on the stock. Finally, Barclays increased their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Caterpillar currently has an average rating of “Hold” and an average price target of $336.31.

Insider Buying and Selling at Caterpillar

In other news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction on Wednesday, September 4th. The shares were 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 in the company, valued at approximately $962,272.78. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Cheryl H. Johnson sold 2,975 shares of the firm’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 value of $1,018,878.00. Following the sale, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The disclosure for this purchase can be found here. Insiders sold a total of 7,668 shares of company stock worth $2,665,760 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

Caterpillar Price Performance

CAT stock opened at $368.85 on Friday. 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 1 year low of $223.76 and a 1 year high of $382.01. The firm has a market cap of $180.39 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. The stock has a 50-day simple moving average of $343.68 and a 200-day simple moving average of $344.75.

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, 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 quarter last year, the firm earned $5.55 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities analysts predict that Caterpillar Inc. will post 21.88 earnings per share for the current fiscal year.

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

Caterpillar Profile

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.