TigerOak Management L.L.C. Takes Position in Caterpillar Inc. $CAT

Key Points

• TigerOak Management purchased a new position in Caterpillar Inc., acquiring 606 shares valued at approximately $235,000 during the 2nd quarter.
• Institutional investors hold around 70.98% of Caterpillar's stock, with major hedge fund activities including GAMMA Investing's massive 43,447.3% increase in position during the 1st quarter.
• Caterpillar's stock has received several price target upgrades from research analysts, with JPMorgan raising the target from $475 to $520, indicating an overall positive market sentiment towards the company.

TigerOak Management L.L.C. bought a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 606 shares of the industrial products company's stock, valued at approximately $235,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CAT. GAMMA Investing LLC raised its position in shares of Caterpillar by 43,447.3% during the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock worth $1,230,239,000 after acquiring an additional 3,721,693 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Caterpillar by 2,723.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock worth $466,430,000 after acquiring an additional 1,364,183 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Caterpillar during the 1st quarter worth about $391,788,000. Assenagon Asset Management S.A. raised its position in shares of Caterpillar by 546.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company's stock worth $327,297,000 after acquiring an additional 712,711 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Caterpillar by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company's stock worth $1,064,951,000 after acquiring an additional 268,300 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Activity

In other news, Director Susan C. Schwab sold 2,324 shares of the business'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 value of $952,840.00. Following the transaction, the director owned 6,917 shares of the company's stock, valued at approximately $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value 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. The trade was a 20.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,819 shares of company stock valued at $16,885,492. Company insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

CAT has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Melius Research raised Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target on the stock in a research report on Wednesday, July 9th. Barclays lifted their price target 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 on the stock in a research report on Tuesday, August 19th. Finally, Oppenheimer cut their price target on Caterpillar from $493.00 to $480.00 and set an "outperform" rating on the stock in a research report on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $464.33.

Caterpillar Trading Down 0.2%

NYSE:CAT opened at $470.50 on Thursday. The firm has a market cap of $220.42 billion, a P/E ratio of 23.93, a PEG ratio of 2.86 and a beta of 1.41. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The stock's 50 day simple moving average is $429.02 and its 200-day simple moving average is $371.77. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $485.34.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company's revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $5.99 EPS. Equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

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.

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