Mercer Global Advisors Inc. ADV Raises Stock Position in Caterpillar Inc. $CAT

Key Points

• Mercer Global Advisors increased its stake in Caterpillar (NYSE:CAT) by 38.1% in Q3, adding 38,667 shares to hold 140,236 shares valued at about $66.9 million.
• Company insiders have been net sellers — Anthony D. Fassino and Bob De Lange sold large blocks recently, and insiders disposed of 135,950 shares worth $94.33 million over the past three months, leaving insiders with roughly 0.33% ownership.
• Analysts have raised price targets and the consensus is a Moderate Buy with an average target of $730.50, supported by a recent quarterly beat (EPS $5.16 vs. $4.67 est.; revenue $19.13B, +17.9% YoY).

Mercer Global Advisors Inc. ADV grew its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 38.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,236 shares of the industrial products company's stock after acquiring an additional 38,667 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Caterpillar were worth $66,914,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. WealthShield Partners LLC increased its stake in Caterpillar by 1.6% in the 3rd quarter. WealthShield Partners LLC now owns 1,122 shares of the industrial products company's stock valued at $535,000 after purchasing an additional 18 shares in the last quarter. one8zero8 LLC boosted its position in Caterpillar by 3.2% during the third quarter. one8zero8 LLC now owns 619 shares of the industrial products company's stock worth $295,000 after purchasing an additional 19 shares in the last quarter. Abacus Planning Group Inc. grew its holdings in Caterpillar by 0.6% in the third quarter. Abacus Planning Group Inc. now owns 3,214 shares of the industrial products company's stock valued at $1,534,000 after purchasing an additional 20 shares during the last quarter. Cyr Financial Inc. increased its position in shares of Caterpillar by 2.5% in the third quarter. Cyr Financial Inc. now owns 811 shares of the industrial products company's stock valued at $387,000 after buying an additional 20 shares in the last quarter. Finally, Perennial Investment Advisors LLC raised its stake in shares of Caterpillar by 1.2% during the 3rd quarter. Perennial Investment Advisors LLC now owns 1,719 shares of the industrial products company's stock worth $821,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Buying and Selling

In other Caterpillar news, insider Anthony D. Fassino sold 10,671 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $680.45, for a total transaction of $7,261,081.95. Following the transaction, the insider owned 41,151 shares of the company's stock, valued at $28,001,197.95. This represents a 20.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Lange Bob De sold 22,656 shares of the firm's stock in a transaction on Friday, February 6th. The stock was sold at an average price of $720.11, for a total value of $16,314,812.16. Following the sale, the insider owned 79,953 shares in the company, valued at $57,574,954.83. This trade represents a 22.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 135,950 shares of company stock worth $94,327,990 in the last three months. 0.33% of the stock is currently owned by insiders.

Caterpillar Price Performance

Caterpillar stock opened at $700.09 on Tuesday. The stock has a market capitalization of $325.75 billion, a P/E ratio of 37.20, a P/E/G ratio of 1.64 and a beta of 1.53. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $789.81. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.44 and a quick ratio of 0.94. The firm's 50-day moving average is $695.58 and its two-hundred day moving average is $587.94.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, beating analysts' consensus estimates of $4.67 by $0.49. The business had revenue of $19.13 billion during the quarter, compared to analyst estimates of $17.81 billion. Caterpillar had a net margin of 13.14% and a return on equity of 45.76%. The company's revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.14 earnings per share. Equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on CAT. Royal Bank Of Canada increased their price objective on shares of Caterpillar from $587.00 to $658.00 and gave the company a "sector perform" rating in a research note on Friday, January 30th. Argus lifted their target price on shares of Caterpillar from $625.00 to $820.00 and gave the stock a "buy" rating in a research report on Wednesday, February 11th. Oppenheimer upped their price target on shares of Caterpillar from $729.00 to $817.00 and gave the company an "outperform" rating in a report on Friday, March 6th. Bank of America raised their price objective on shares of Caterpillar from $735.00 to $825.00 and gave the stock a "buy" rating in a research note on Tuesday, February 10th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Caterpillar in a research note on Monday, December 29th. Sixteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $730.50.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company's product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.

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