DRW Securities LLC Acquires 7,652 Shares of Caterpillar Inc. (NYSE:CAT)

DRW Securities LLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 585.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,959 shares of the industrial products company’s stock after purchasing an additional 7,652 shares during the quarter. DRW Securities LLC’s holdings in Caterpillar were worth $2,984,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board raised its holdings in 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 acquiring an additional 307,479 shares in the last quarter. Swedbank AB acquired a new position in Caterpillar in the first quarter valued at about $97,042,000. Capital International Investors lifted its position in 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. National Bank of Canada FI increased its holdings in Caterpillar by 104.6% in 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 buying an additional 200,134 shares during the period. Finally, Strategic Financial Concepts LLC raised its position in shares of Caterpillar by 28,321.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 200,654 shares of the industrial products company’s stock valued at $668,000 after buying an additional 199,948 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

NYSE CAT opened at $368.82 on Friday. The company has a market capitalization of $180.37 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.56 and a beta of 1.10. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01. The stock has a fifty day simple moving average of $343.68 and a 200 day simple moving average of $344.83.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. During the same quarter in the prior year, the firm posted $5.55 earnings per share. The business’s quarterly revenue was down 3.6% on a year-over-year basis. Sell-side analysts expect that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar announced that its board has authorized a stock repurchase plan on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Caterpillar

In other news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 18,515 shares in the company, valued at $6,480,250. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Caterpillar news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now owns 18,515 shares of the company’s stock, valued at $6,480,250. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,668 shares of company stock worth $2,665,760. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

CAT has been the topic of a number of recent analyst reports. Evercore ISI decreased their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Citigroup initiated coverage on Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target for the company. Raymond James assumed coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating 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, Barclays lifted their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Caterpillar currently has an average rating of “Hold” and a consensus target price 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.