Asset Management Group Inc. Increases Position in Caterpillar Inc. (NYSE:CAT)

Asset Management Group Inc. increased its position in Caterpillar Inc. (NYSE:CAT) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,057 shares of the industrial products company’s stock after buying an additional 63 shares during the period. Asset Management Group Inc.’s holdings in Caterpillar were worth $3,683,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Canada Pension Plan Investment Board boosted its position in shares of Caterpillar by 306.9% during the first 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 last quarter. Swedbank AB bought a new position in shares of Caterpillar during the 1st quarter valued at about $97,042,000. Capital International Investors grew 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 valued at $179,060,000 after purchasing an additional 244,253 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Caterpillar by 104.6% in the second quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock worth $128,768,000 after purchasing an additional 200,134 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its position in shares of Caterpillar by 28,321.2% in the second quarter. Strategic Financial Concepts LLC now owns 200,654 shares of the industrial products company’s stock worth $668,000 after buying an additional 199,948 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CAT shares. Bank of America decreased their price objective on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Raymond James began coverage on shares of Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating for the company. Citigroup started coverage on shares of Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price on the stock. StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, UBS Group boosted their price objective on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar has an average rating of “Hold” and a consensus price target of $336.31.

Caterpillar Trading Down 1.2 %

NYSE CAT opened at $368.85 on Friday. The stock has a market cap of $180.39 billion, a PE ratio of 16.65, a PEG ratio of 1.56 and a beta of 1.10. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01. The company’s 50-day moving average price is $343.68 and its 200-day moving average price is $344.75. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates 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 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 period last year, the company posted $5.55 earnings per share. Equities research analysts forecast that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar declared that its Board of Directors has approved a share buyback program on Wednesday, June 12th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Caterpillar

In other news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction 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 transaction, the insider now owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Cheryl H. Johnson sold 1,508 shares of the 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 transaction, the insider now directly owns 18,515 shares in the company, valued at $6,480,250. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The disclosure for this sale can be found here. Insiders sold a total of 7,668 shares of company stock valued at $2,665,760 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

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.