Summit Trail Advisors LLC Boosts Holdings in Caterpillar Inc. (NYSE:CAT)

Summit Trail Advisors LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 166.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,191 shares of the industrial products company’s stock after purchasing an additional 30,752 shares during the period. Summit Trail Advisors LLC’s holdings in Caterpillar were worth $16,385,000 as of its most recent filing with the Securities & Exchange Commission.

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

Caterpillar Stock Down 1.2 %

CAT opened at $368.85 on Friday. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01. The business has a 50-day moving average of $343.68 and a two-hundred day moving average of $344.75. The stock has a market capitalization of $180.39 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. 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 issued 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. The business had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the company posted $5.55 EPS. On average, research analysts expect that Caterpillar Inc. will post 21.88 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of recent research reports. UBS Group boosted their price target on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Evercore ISI lowered their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Bank of America reduced their price objective on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, Citigroup started coverage on Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $336.31.

Insider Activity

In related news, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost 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 approximately $962,272.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Caterpillar news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,668 shares of company stock valued at $2,665,760. Company insiders own 0.33% of the company’s stock.

About Caterpillar

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.