Goelzer Investment Management Inc. Cuts Position in Caterpillar Inc. (NYSE:CAT)

Goelzer Investment Management Inc. cut its position in Caterpillar Inc. (NYSE:CAT) by 1.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 15,244 shares of the industrial products company’s stock after selling 153 shares during the period. Goelzer Investment Management Inc.’s holdings in Caterpillar were worth $5,962,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Richardson Financial Services Inc. acquired a new stake in shares of Caterpillar during the fourth quarter worth about $27,000. Thompson Investment Management Inc. acquired a new stake in Caterpillar during the 1st quarter worth approximately $27,000. Bbjs Financial Advisors LLC purchased a new position in Caterpillar in the 2nd quarter valued at approximately $28,000. Financial Connections Group Inc. acquired a new position in shares of Caterpillar in the second quarter worth $28,000. Finally, Fairman Group LLC purchased a new stake in shares of Caterpillar during the first quarter worth $29,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of Caterpillar stock traded up $6.00 on Friday, hitting $397.09. The stock had a trading volume of 1,675,430 shares, compared to its average volume of 2,668,227. The stock has a market cap of $194.20 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 1.73 and a beta of 1.10. 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 Inc. has a 52-week low of $223.76 and a 52-week high of $397.46. The company’s 50 day moving average price is $351.52 and its 200 day moving average price is $348.09.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data 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. The business had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $5.55 earnings per share. On average, research analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar announced that its Board of Directors has approved a stock buyback 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 reacquire up to 12.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 18,515 shares in the company, valued at $6,480,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were acquired 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 owns 2,842 shares in the company, valued at approximately $962,272.78. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 7,668 shares of company stock valued at $2,665,760. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Barclays boosted their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Evercore ISI lowered their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Citigroup assumed 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. UBS Group boosted their price target on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Finally, Raymond James started coverage on shares of Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating on the stock. 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. Based on data from MarketBeat, Caterpillar currently has a consensus rating of “Hold” and an average target price of $339.94.

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.