Caterpillar Inc. (NYSE:CAT) Stock Holdings Increased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. lifted its stake in Caterpillar Inc. (NYSE:CAT) by 31.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,990 shares of the industrial products company’s stock after purchasing an additional 2,889 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Caterpillar were worth $3,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC lifted its position in shares of Caterpillar by 17.2% in the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after purchasing an additional 1,327 shares in the last quarter. Diversify Advisory Services LLC acquired a new position in Caterpillar in the first quarter worth approximately $926,000. Natixis Advisors LLC increased its holdings in Caterpillar by 3.5% in the second quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock worth $92,688,000 after buying an additional 9,321 shares during the last quarter. Bailard Inc. increased its holdings in Caterpillar by 3.1% in the second quarter. Bailard Inc. now owns 13,435 shares of the industrial products company’s stock worth $4,475,000 after buying an additional 398 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in Caterpillar in the fourth quarter worth approximately $222,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Caterpillar

In related news, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, September 4th. The shares were 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 in the company, valued at approximately $962,272.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Caterpillar news, 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 sale, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 7,668 shares of company stock worth $2,665,760. Insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 1.4 %

Shares of Caterpillar stock opened at $339.59 on Friday. The company’s fifty day simple moving average is $340.36 and its 200-day simple moving average is $343.69. The company has a market cap of $166.08 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.54 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 1 year low of $223.76 and a 1 year high of $382.01.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data 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 business had revenue of $16.69 billion for 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 quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company posted $5.55 earnings per share. As a group, sell-side analysts expect that Caterpillar Inc. will post 21.87 EPS for the current year.

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

Analysts Set New Price Targets

CAT has been the topic of a number of research reports. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Friday. Bank of America dropped 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. UBS Group increased their price objective on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Raymond James initiated coverage on Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, Evercore ISI dropped their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.