Caterpillar Inc. $CAT Shares Purchased by Invesco LLC

Key Points

• Invesco LLC has increased its stake in Caterpillar Inc. by 38.1%, owning a total of 2,930 shares worth approximately $1.14 million as of the end of the last quarter.
• Analysts have recently upgraded Caterpillar's stock ratings, with Bank of America raising its price target from $495.00 to $517.00 and Evercore ISI upgrading its rating to "outperform" with a target price of $476.00.
• The company's earnings report showed a miss on EPS at $4.72 against an estimate of $4.88, with revenue at $16.57 billion, indicating a 0.7% year-over-year decline.

Invesco LLC grew its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 38.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,930 shares of the industrial products company's stock after acquiring an additional 809 shares during the quarter. Invesco LLC's holdings in Caterpillar were worth $1,137,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Caterpillar by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company's stock valued at $1,386,626,000 after purchasing an additional 264,054 shares during the last quarter. Charles Schwab Investment Management Inc. raised 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 buying an additional 15,347 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Caterpillar by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company's stock valued at $1,064,951,000 after acquiring an additional 268,300 shares during the last quarter. Invesco Ltd. grew its position in Caterpillar by 5.0% during the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company's stock valued at $1,036,211,000 after acquiring an additional 150,533 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in Caterpillar by 0.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,416,464 shares of the industrial products company's stock worth $467,150,000 after acquiring an additional 5,559 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CAT shares. Evercore ISI upgraded Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price for the company in a report on Tuesday, August 19th. Bank of America boosted their price objective on shares of Caterpillar from $495.00 to $517.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Oppenheimer cut their target price on shares of Caterpillar from $493.00 to $480.00 and set an "outperform" rating on the stock in a research note on Friday, August 29th. DA Davidson upped their price target on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. Two investment 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, Caterpillar has a consensus rating of "Moderate Buy" and an average price target of $464.33.

Insider Activity

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. This represents a 3.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 2,324 shares of the firm's stock in a transaction that occurred 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 sale, the director owned 6,917 shares of the company's stock, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,819 shares of company stock worth $16,885,492 in the last 90 days. Company insiders own 0.33% of the company's stock.

Caterpillar Trading Up 0.5%

NYSE CAT opened at $466.06 on Monday. The firm's 50 day moving average price is $430.98 and its two-hundred day moving average price is $373.99. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $485.34. The stock has a market cap of $218.34 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 2.83 and a beta of 1.41.

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

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.

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