Alaethes Wealth LLC Increases Stake in Caterpillar Inc. (NYSE:CAT)

Alaethes Wealth LLC raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 1.4% in the second quarter, Holdings Channel.com reports. The fund owned 5,517 shares of the industrial products company’s stock after buying an additional 74 shares during the quarter. Alaethes Wealth LLC’s holdings in Caterpillar were worth $1,838,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Southland Equity Partners LLC grew its stake in Caterpillar by 4.0% during the first quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after buying an additional 30 shares during the period. Davis Investment Partners LLC raised its stake in shares of Caterpillar by 2.1% during the first quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock valued at $541,000 after purchasing an additional 30 shares during the period. Hilltop National Bank lifted its position in shares of Caterpillar by 1.2% during the second quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock worth $878,000 after purchasing an additional 31 shares in the last quarter. Exchange Capital Management Inc. grew its holdings in Caterpillar by 3.3% during the 1st quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company’s stock valued at $372,000 after purchasing an additional 32 shares in the last quarter. Finally, D Orazio & Associates Inc. increased its stake in Caterpillar by 4.0% during the 1st quarter. D Orazio & Associates Inc. now owns 835 shares of the industrial products company’s stock worth $306,000 after buying an additional 32 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Trading Down 1.2 %

Shares of CAT stock opened at $368.85 on Friday. The stock has a market cap of $180.39 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 1.56 and a beta of 1.10. 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 52-week low of $223.76 and a 52-week high of $382.01. The firm has a fifty day moving average of $343.68 and a 200-day moving average of $344.75.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results 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. The business had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.55 EPS. On average, equities research analysts forecast that Caterpillar Inc. will post 21.88 earnings per share for the current fiscal year.

Caterpillar declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Caterpillar

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was bought 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 of the company’s stock, valued at approximately $962,272.78. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total transaction of $527,800.00. Following the completion of the sale, the insider now directly owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction 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 purchase, the director now 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 over the last 90 days. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Barclays raised their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Bank of America decreased their price objective on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, September 13th. UBS Group boosted 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. Finally, Citigroup initiated coverage on shares of Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price for the company. Two equities 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 company’s stock. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and a consensus price target of $336.31.

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.