Caterpillar Inc. (NYSE:CAT) Stock Holdings Increased by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its stake in Caterpillar Inc. (NYSE:CAT) by 38.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 314,312 shares of the industrial products company’s stock after purchasing an additional 87,312 shares during the quarter. Renaissance Technologies LLC owned 0.06% of Caterpillar worth $104,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board increased its holdings in Caterpillar by 306.9% in the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after buying an additional 307,479 shares during the last quarter. Swedbank AB acquired a new position in Caterpillar in the first quarter worth approximately $97,042,000. Capital International Investors increased its holdings in Caterpillar by 99.9% in the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock worth $179,060,000 after buying an additional 244,253 shares during the last quarter. National Bank of Canada FI increased its holdings in Caterpillar by 104.6% in the second quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock worth $128,768,000 after buying an additional 200,134 shares during the last quarter. Finally, Strategic Financial Concepts LLC increased its holdings in Caterpillar by 28,321.2% in the second quarter. Strategic Financial Concepts LLC now owns 200,654 shares of the industrial products company’s stock worth $668,000 after buying an additional 199,948 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Friday. Bank of America lowered their price target on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Evercore ISI lowered their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Citigroup initiated coverage on Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. Finally, UBS Group increased their price target on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $336.31.

Insider Buying and Selling

In other news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The disclosure for this purchase can be found here. Insiders sold a total of 7,668 shares of company stock valued at $2,665,760 over the last ninety days. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Up 0.8 %

CAT opened at $347.96 on Tuesday. The stock has a market capitalization of $170.17 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 1.56 and a beta of 1.10. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01. The business has a 50 day moving average of $341.08 and a 200-day moving average of $344.15. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping the consensus estimate of $5.53 by $0.46. The firm had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. Caterpillar’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business earned $5.55 earnings per share. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.