Caterpillar Inc. (NYSE:CAT) Position Increased by Mackenzie Financial Corp

Mackenzie Financial Corp increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 178,960 shares of the industrial products company’s stock after acquiring an additional 4,465 shares during the period. Mackenzie Financial Corp’s holdings in Caterpillar were worth $59,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board increased its holdings in shares of Caterpillar by 306.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after acquiring an additional 307,479 shares during the period. Altshuler Shaham Ltd raised its holdings in shares of Caterpillar by 3,319.7% during the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after buying an additional 266,969 shares during the last quarter. Swedbank AB acquired a new position in shares of Caterpillar during the first quarter worth approximately $97,042,000. Capital International Investors grew its holdings in Caterpillar by 99.9% in the 1st quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock worth $179,060,000 after buying an additional 244,253 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in Caterpillar by 104.6% during the 2nd quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock valued at $128,768,000 after acquiring an additional 200,134 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

NYSE CAT opened at $390.83 on Friday. 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 stock has a market capitalization of $191.14 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $397.22. The company has a 50 day moving average price of $345.81 and a two-hundred day moving average price of $345.99.

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 analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. During the same period in the prior year, the company posted $5.55 earnings per share. Caterpillar’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, equities analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar declared that its board has approved a stock buyback plan on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, Director Gerald Johnson bought 100 shares of the firm’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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, 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 transaction, 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 accessible through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,668 shares of company stock valued at $2,665,760. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CAT shares. Evercore ISI decreased their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Citigroup began coverage on Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 price objective for the company. Raymond James initiated coverage on shares of Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Bank of America reduced their price target on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Barclays boosted their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.