Sachetta LLC Acquires 36 Shares of Caterpillar Inc. (NYSE:CAT)

Sachetta LLC grew its holdings in Caterpillar Inc. (NYSE:CAT) by 22.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 199 shares of the industrial products company’s stock after acquiring an additional 36 shares during the period. Sachetta LLC’s holdings in Caterpillar were worth $68,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CAT. Norges Bank bought a new position in shares of Caterpillar in the 4th quarter valued at approximately $1,660,560,000. Capital Wealth Planning LLC lifted its stake in shares of Caterpillar by 27,495.2% in the fourth quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock worth $349,616,000 after buying an additional 1,178,168 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Caterpillar by 306.9% during 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 period. Swedbank AB acquired a new position in Caterpillar in the 1st quarter valued at $97,042,000. Finally, Capital International Investors raised its holdings in Caterpillar by 99.9% in the 1st 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 period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Bank of America lowered their price target on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock 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 report on Monday, August 19th. Raymond James started coverage on shares of Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. Finally, UBS Group boosted their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Two equities research 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’s stock. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and an average target price of $336.31.

Insider Buying and Selling

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, for a total transaction 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 document filed with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gerald Johnson bought 100 shares of Caterpillar 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 transaction, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $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 in the last three months. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Caterpillar stock opened at $334.14 on Wednesday. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $382.01. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The stock has a fifty day moving average price of $340.09 and a two-hundred day moving average price of $343.78. The firm has a market capitalization of $162.02 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.54 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings results 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 firm had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $5.55 earnings per share. As a group, analysts anticipate that Caterpillar Inc. will post 21.87 EPS for the current fiscal year.

Caterpillar declared that its board 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 buy up to 12.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are 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.