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Caterpillar Inc. $CAT Shares Bought by Acadian Asset Management LLC

Caterpillar logo with Industrials background

Key Points

  • Acadian Asset Management LLC increased its stake in Caterpillar Inc. by 218.8% to a total of 41,743 shares, valued at approximately $13.76 million.
  • Insider transactions included a sale by Chairman Donald J. Umpleby III of 17,168 shares for over $7 million, marking a 3.44% decrease in his ownership.
  • Analysts have a Moderate Buy rating on Caterpillar with an average target price of $457.20, indicating optimism about the company's future performance.
  • Five stocks we like better than Caterpillar.

Acadian Asset Management LLC grew its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 218.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 41,743 shares of the industrial products company's stock after acquiring an additional 28,650 shares during the period. Acadian Asset Management LLC's holdings in Caterpillar were worth $13,763,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Investment Management Corp VA ADV purchased a new stake in shares of Caterpillar in the 4th quarter valued at approximately $33,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Caterpillar in the fourth quarter valued at approximately $36,000. Mattson Financial Services LLC acquired a new position in shares of Caterpillar in the fourth quarter valued at approximately $39,000. Curat Global LLC acquired a new position in shares of Caterpillar in the first quarter valued at approximately $33,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Caterpillar in the first quarter valued at approximately $33,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

NYSE:CAT traded up $8.18 during trading hours on Wednesday, reaching $448.85. 1,450,072 shares of the company's stock were exchanged, compared to its average volume of 2,718,613. The firm has a market capitalization of $210.27 billion, a price-to-earnings ratio of 22.89, a P/E/G ratio of 2.65 and a beta of 1.41. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $450.70. The company has a 50-day moving average of $421.85 and a 200 day moving average of $366.65.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). The firm had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.99 EPS. Research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. This trade represents a 3.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the transaction, the director owned 6,917 shares of the company's stock, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,653 shares of company stock worth $8,943,642. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on CAT. Citigroup lifted their price objective on shares of Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Barclays lifted their price objective on shares of Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Robert W. Baird lifted their price objective on shares of Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a report on Wednesday. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Caterpillar currently has an average rating of "Moderate Buy" and an average target price of $460.20.

Read Our Latest Analysis on Caterpillar

Caterpillar Company Profile

(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.

See Also

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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