US Asset Management LLC Has $1.20 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

US Asset Management LLC reduced its holdings in shares of Caterpillar Inc. (NYSE:CATFree Report) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,598 shares of the industrial products company’s stock after selling 126 shares during the quarter. Caterpillar makes up approximately 1.1% of US Asset Management LLC’s holdings, making the stock its 23rd biggest position. US Asset Management LLC’s holdings in Caterpillar were worth $1,198,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAT. Hardin Capital Partners LLC acquired a new position in Caterpillar during the second quarter valued at approximately $494,000. RS Crum Inc. grew its stake in shares of Caterpillar by 2.4% in the second quarter. RS Crum Inc. now owns 4,430 shares of the industrial products company’s stock valued at $1,476,000 after buying an additional 105 shares in the last quarter. TradeLink Capital LLC bought a new position in shares of Caterpillar in the 2nd quarter valued at about $600,000. Meeder Advisory Services Inc. grew its holdings in Caterpillar by 31.7% during the second quarter. Meeder Advisory Services Inc. now owns 11,990 shares of the industrial products company’s stock worth $3,994,000 after purchasing an additional 2,889 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Caterpillar by 5.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 394,209 shares of the industrial products company’s stock worth $129,289,000 after acquiring an additional 21,381 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $345.31 on Friday. The company’s fifty day moving average is $340.70 and its 200 day moving average is $343.83. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01. The stock has a market cap of $167.44 billion, a price-to-earnings ratio of 15.59, a P/E/G 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 (NYSE:CATGet Free Report) 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 the consensus estimate of $5.53 by $0.46. The firm had revenue of $16.69 billion during 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 revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $5.55 EPS. Sell-side analysts forecast that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 12th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday. Bank of America lowered their price objective on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Citigroup started coverage on shares of Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective for the company. Evercore ISI dropped their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Finally, Barclays upped their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $336.31.

Read Our Latest Stock Report on CAT

Insiders Place Their Bets

In other news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction 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 sale, the insider now owns 18,515 shares in the company, valued at approximately $6,480,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the 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 transaction, the insider now owns 18,515 shares in the company, valued at $6,480,250. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction on Friday, August 30th. The shares were 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 of the company’s stock, valued at approximately $11,750,181.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,668 shares of company stock worth $2,665,760. 0.33% of the stock is owned by corporate insiders.

About Caterpillar

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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