Caterpillar Inc. (NYSE:CAT) Position Increased by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 301.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,091 shares of the industrial products company’s stock after buying an additional 2,321 shares during the period. E Fund Management Co. Ltd.’s holdings in Caterpillar were worth $1,030,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Thompson Investment Management Inc. purchased a new stake in shares of Caterpillar in the 1st quarter valued at approximately $27,000. Fairman Group LLC purchased a new stake in shares of Caterpillar in the first quarter valued at $29,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar in the second quarter worth $28,000. Financial Connections Group Inc. acquired a new position in Caterpillar during the second quarter valued at $28,000. Finally, Richardson Financial Services Inc. purchased a new stake in Caterpillar in the 4th quarter worth about $27,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Up 0.4 %

CAT opened at $355.13 on Thursday. The business has a 50 day moving average price of $342.17 and a 200 day moving average price of $344.34. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The firm has a market cap of $173.68 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 1.56 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 for the quarter, topping the consensus estimate of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same period in the previous year, the company earned $5.55 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Research analysts forecast that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar declared that its Board of Directors has approved a stock buyback program 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 repurchase up to 12.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CAT shares. Barclays upped their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Evercore ISI lowered their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. UBS Group increased their price objective on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Finally, Citigroup began coverage on Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $336.31.

Insider Buying and Selling

In related news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased 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 $962,272.78. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar 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 transaction, the insider now directly 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 accessible through this link. Also, Director Gerald Johnson purchased 100 shares of the company’s 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 completion of the transaction, the director now owns 2,842 shares in the company, valued at $962,272.78. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 7,668 shares of company stock worth $2,665,760. 0.33% of the stock is currently owned by insiders.

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.