Weybosset Research & Management LLC Takes Position in Caterpillar Inc. (NYSE:CAT)

Weybosset Research & Management LLC acquired a new position in Caterpillar Inc. (NYSE:CAT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 600 shares of the industrial products company’s stock, valued at approximately $235,000.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on CAT. Evercore ISI dropped their price objective on shares of 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 lifted their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Barclays increased their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Finally, UBS Group boosted their target price on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Caterpillar has an average rating of “Hold” and an average target price of $339.94.

Caterpillar Price Performance

NYSE:CAT opened at $394.09 on Thursday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The firm has a market cap of $192.73 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 1.73 and a beta of 1.10. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $397.22. The firm’s 50-day simple moving average is $349.66 and its 200 day simple moving average is $347.47.

Caterpillar (NYSE:CAT) last announced its 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 company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $5.55 earnings per share. As a group, sell-side analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current year.

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

Insider Buying and Selling at Caterpillar

In related news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the sale, the insider now directly owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, 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 transaction of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. 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. 0.33% of the stock is currently owned by corporate insiders.

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.