Caterpillar Inc. (NYSE:CAT) Shares Sold by Inspire Investing LLC

Inspire Investing LLC trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 10.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,876 shares of the industrial products company’s stock after selling 5,668 shares during the period. Caterpillar accounts for about 1.9% of Inspire Investing LLC’s investment portfolio, making the stock its 3rd largest position. Inspire Investing LLC’s holdings in Caterpillar were worth $16,280,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Caterpillar by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock worth $14,296,641,000 after buying an additional 129,216 shares in the last quarter. Capital World Investors increased its position in Caterpillar by 0.3% during the 4th quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock worth $8,583,372,000 after purchasing an additional 96,479 shares in the last quarter. Fisher Asset Management LLC raised its stake in Caterpillar by 2.2% in the 4th quarter. Fisher Asset Management LLC now owns 8,139,040 shares of the industrial products company’s stock valued at $2,406,471,000 after purchasing an additional 173,108 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Caterpillar by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after purchasing an additional 165,358 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Caterpillar by 6.3% during the 1st quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock worth $740,225,000 after purchasing an additional 119,326 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CAT. StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Barclays increased their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Evercore ISI lowered their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Bank of America reduced their target price on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Citigroup initiated coverage on Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and an average target price of $336.31.

Insider Transactions at Caterpillar

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

Caterpillar Trading Up 0.4 %

Caterpillar stock opened at $355.13 on Thursday. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $382.01. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $173.68 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 1.56 and a beta of 1.10. The firm has a 50-day moving average price of $342.17 and a two-hundred day moving average price of $344.34.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) 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 business had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. During the same period in the previous year, the firm posted $5.55 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. Sell-side analysts expect that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar declared that its Board of Directors has authorized a stock buyback plan on Wednesday, June 12th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is 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.