Trinity Legacy Partners LLC Purchases 134 Shares of Caterpillar Inc. (NYSE:CAT)

Trinity Legacy Partners LLC boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 0.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 17,562 shares of the industrial products company’s stock after buying an additional 134 shares during the period. Caterpillar makes up approximately 1.7% of Trinity Legacy Partners LLC’s investment portfolio, making the stock its 18th biggest position. Trinity Legacy Partners LLC’s holdings in Caterpillar were worth $5,850,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Richardson Financial Services Inc. purchased a new stake in Caterpillar during the fourth quarter valued at about $27,000. Thompson Investment Management Inc. bought a new position in shares of Caterpillar during the 1st quarter valued at about $27,000. Bbjs Financial Advisors LLC purchased a new position in shares of Caterpillar during the 2nd quarter valued at about $28,000. Financial Connections Group Inc. bought a new stake in Caterpillar in the 2nd quarter worth approximately $28,000. Finally, Fairman Group LLC purchased a new stake in Caterpillar in the first quarter worth approximately $29,000. 70.98% of the stock is currently owned by institutional investors.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average cost 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 in the company, valued at $962,272.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Gerald Johnson acquired 100 shares of the stock in a transaction on Wednesday, September 4th. The stock was acquired 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 owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the company’s 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 completion of the sale, the insider now directly 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 sold 7,668 shares of company stock valued at $2,665,760. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 4.0 %

Shares of Caterpillar stock opened at $386.00 on Wednesday. The company’s fifty day simple moving average is $344.70 and its two-hundred day simple moving average is $345.44. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $389.43. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The company has a market cap of $187.17 billion, a P/E ratio of 17.43, a PEG ratio of 1.73 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings results 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. The company 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%. Caterpillar’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $5.55 earnings per share. Research analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current year.

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

Analyst Upgrades and Downgrades

CAT has been the subject of a number of recent research reports. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday. UBS Group upped their price target on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Evercore ISI reduced their price objective on 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 target price for the company. Finally, Bank of America decreased their price target on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $336.31.

About Caterpillar

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.