Acadian Asset Management LLC Purchases 28,650 Shares of Caterpillar Inc. $CAT

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.

Acadian Asset Management LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 218.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,743 shares of the industrial products company's stock after buying an additional 28,650 shares during the quarter. Acadian Asset Management LLC's holdings in Caterpillar were worth $13,763,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CAT. Investment Management Corp VA ADV acquired a new stake in shares of Caterpillar during the 4th quarter valued at approximately $33,000. Curat Global LLC purchased a new stake in Caterpillar in the 1st quarter worth approximately $33,000. Redmont Wealth Advisors LLC purchased a new stake in Caterpillar in the 1st quarter worth approximately $33,000. Mpwm Advisory Solutions LLC purchased a new stake in Caterpillar in the 4th quarter worth approximately $36,000. Finally, Mattson Financial Services LLC purchased a new stake in shares of Caterpillar during the 4th quarter valued at $39,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Price Performance

CAT stock traded up $2.93 during trading on Tuesday, hitting $438.87. 1,297,459 shares of the stock traded hands, compared to its average volume of 2,720,058. Caterpillar Inc. has a one year low of $267.30 and a one year high of $441.15. The stock has a market cap of $205.60 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 2.62 and a beta of 1.41. The company has a 50 day simple moving average of $420.93 and a 200 day simple moving average of $366.13. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50.

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

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 2,161 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,653 shares of company stock worth $8,943,642. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CAT. Barclays boosted their price objective on shares of Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Citigroup upped their price target on shares of Caterpillar from $460.00 to $500.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Jefferies Financial Group reaffirmed a "buy" rating and set a $500.00 price target on shares of Caterpillar in a research report on Friday, August 29th. Melius raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target for the company in a research report on Wednesday, July 9th. Finally, Bank of America upped their price target on shares of Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Caterpillar presently has an average rating of "Moderate Buy" and an average target price of $457.20.

Caterpillar Company 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.