Caterpillar Inc. (NYSE:CAT) Holdings Decreased by MRP Capital Investments LLC

MRP Capital Investments LLC cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 3.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,060 shares of the industrial products company’s stock after selling 70 shares during the quarter. MRP Capital Investments LLC’s holdings in Caterpillar were worth $686,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CAT. Garner Asset Management Corp increased its stake in shares of Caterpillar by 1.4% in the second quarter. Garner Asset Management Corp now owns 2,277 shares of the industrial products company’s stock valued at $759,000 after purchasing an additional 32 shares during the period. Altrius Capital Management Inc boosted its position in Caterpillar by 2.4% during the 2nd quarter. Altrius Capital Management Inc now owns 13,772 shares of the industrial products company’s stock worth $4,588,000 after acquiring an additional 318 shares during the period. Seven Eight Capital LP acquired a new stake in Caterpillar during the second quarter valued at approximately $523,000. Zega Financial LLC boosted its holdings in Caterpillar by 51.2% during the second quarter. Zega Financial LLC now owns 3,504 shares of the industrial products company’s stock worth $1,167,000 after buying an additional 1,187 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Caterpillar by 9.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 49,012 shares of the industrial products company’s stock valued at $16,103,000 after buying an additional 4,348 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Buying and Selling

In related news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gerald Johnson purchased 100 shares of the stock in a transaction on Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, 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. Over the last quarter, insiders have sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of recent research reports. UBS Group lifted their target price on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Bank of America cut their price objective on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Citigroup initiated coverage on shares of Caterpillar in a research report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target for the company. Finally, Barclays boosted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company 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 assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $336.31.

Caterpillar Stock Up 0.4 %

CAT stock opened at $355.13 on Thursday. The stock has a market capitalization of $173.68 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. The company has a 50-day moving average of $342.17 and a two-hundred day moving average of $344.34. 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.

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

Caterpillar announced that its board has authorized a share repurchase plan on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Caterpillar Company 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.