Ascent Group LLC Purchases 154 Shares of Caterpillar Inc. (NYSE:CAT)

Ascent Group LLC raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 19.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 953 shares of the industrial products company’s stock after acquiring an additional 154 shares during the period. Ascent Group LLC’s holdings in Caterpillar were worth $317,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Southland Equity Partners LLC boosted its position in Caterpillar by 4.0% during the 1st 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 in the last quarter. Davis Investment Partners LLC boosted its stake in Caterpillar by 2.1% during 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 during the last quarter. Hilltop National Bank raised its stake in shares of Caterpillar by 1.2% in 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 during the last quarter. Exchange Capital Management Inc. lifted its stake 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 acquiring an additional 32 shares during the period. Finally, D Orazio & Associates Inc. boosted its holdings in shares of Caterpillar by 4.0% during the 1st quarter. D Orazio & Associates Inc. now owns 835 shares of the industrial products company’s stock valued at $306,000 after acquiring an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 0.3 %

Shares of NYSE CAT opened at $392.40 on Wednesday. The company has a market capitalization of $191.90 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.73 and a beta of 1.10. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $397.22. The company has a 50 day simple moving average of $348.50 and a 200-day simple moving average of $347.14. 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 posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping the consensus estimate of $5.53 by $0.46. The business had revenue of $16.69 billion during 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 company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.55 earnings per share. On average, equities research analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current year.

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

Insider Transactions at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the transaction, the insider now directly owns 18,515 shares in the company, valued at $6,480,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the transaction, the insider now owns 18,515 shares in the company, valued at approximately $6,480,250. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, 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 worth $2,665,760. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the topic of several recent research reports. UBS Group increased their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Barclays upped their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Raymond James initiated coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating for the company. Citigroup assumed coverage on Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target for the company. Finally, StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $339.94.

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.