Caterpillar Inc. $CAT Shares Purchased by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd increased its stake in Caterpillar Inc. by 1.9%, owning a total of 92,878 shares worth approximately $36 million.
• Analyst ratings for Caterpillar include multiple "buy" recommendations, with a consensus price target of $460.20, signaling strong market sentiment.
• The company's recent quarterly earnings showed a reported $4.72 EPS, missing estimates, but generated revenue of $16.57 billion, slightly above forecasts.

IFM Investors Pty Ltd raised its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,878 shares of the industrial products company's stock after acquiring an additional 1,698 shares during the quarter. IFM Investors Pty Ltd's holdings in Caterpillar were worth $36,056,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Caterpillar by 9.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock valued at $26,037,000 after acquiring an additional 7,125 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Caterpillar in the 1st quarter worth $427,000. Charles Schwab Investment Management Inc. boosted its position in shares of Caterpillar by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock worth $1,089,798,000 after purchasing an additional 15,347 shares in the last quarter. Heartwood Wealth Advisors LLC boosted its position in shares of Caterpillar by 4.2% in the 2nd quarter. Heartwood Wealth Advisors LLC now owns 2,975 shares of the industrial products company's stock worth $1,155,000 after purchasing an additional 121 shares in the last quarter. Finally, Fiduciary Financial Group LLC boosted its position in shares of Caterpillar by 81.2% in the 2nd quarter. Fiduciary Financial Group LLC now owns 1,913 shares of the industrial products company's stock worth $748,000 after purchasing an additional 857 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Caterpillar Stock Performance

Shares of CAT stock traded up $3.27 on Tuesday, hitting $475.37. The company had a trading volume of 1,904,533 shares, compared to its average volume of 2,755,585. The firm has a market cap of $222.70 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 2.84 and a beta of 1.41. The company has a 50-day moving average price of $426.53 and a 200-day moving average price of $370.38. 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 twelve month low of $267.30 and a twelve month high of $485.34.

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

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar 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 of the company's stock, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,653 shares of company stock worth $8,943,642 in the last 90 days. Corporate insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

CAT has been the subject of a number of recent analyst reports. Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. JPMorgan Chase & Co. raised their price objective on Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Barclays raised their price objective on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Evercore ISI raised Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price target for the company in a research report on Tuesday, August 19th. Finally, Oppenheimer lowered their price target on Caterpillar from $493.00 to $480.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $464.33.

About Caterpillar

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.