Tower Wealth Partners Inc. Buys 111 Shares of Caterpillar Inc. (NYSE:CAT)

Tower Wealth Partners Inc. lifted its position in Caterpillar Inc. (NYSE:CAT) by 10.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,154 shares of the industrial products company’s stock after acquiring an additional 111 shares during the quarter. Tower Wealth Partners Inc.’s holdings in Caterpillar were worth $384,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Monetta Financial Services Inc. purchased a new position in Caterpillar during the 2nd quarter valued at approximately $833,000. Plancorp LLC boosted its position in shares of Caterpillar by 1.7% during the 2nd quarter. Plancorp LLC now owns 1,971 shares of the industrial products company’s stock valued at $657,000 after acquiring an additional 32 shares during the last quarter. Sargent Investment Group LLC grew its holdings in shares of Caterpillar by 13.5% in the second quarter. Sargent Investment Group LLC now owns 5,329 shares of the industrial products company’s stock valued at $1,775,000 after purchasing an additional 635 shares in the last quarter. Old West Investment Management LLC bought a new stake in Caterpillar in the second quarter worth $1,485,000. Finally, Excalibur Management Corp raised its stake in Caterpillar by 32.5% during the second quarter. Excalibur Management Corp now owns 1,906 shares of the industrial products company’s stock valued at $635,000 after purchasing an additional 468 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, 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 7,668 shares of company stock worth $2,665,760 over the last three months. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on CAT shares. Barclays lifted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Evercore ISI reduced their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. UBS Group raised their price objective on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Citigroup initiated coverage on Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price for the company. Finally, Raymond James initiated coverage on Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $336.31.

Caterpillar Price Performance

Shares of CAT stock opened at $347.96 on Tuesday. The company’s 50-day simple moving average is $341.08 and its two-hundred day simple moving average is $344.15. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01. The company has a market capitalization of $170.17 billion, a P/E ratio of 15.71, a P/E/G ratio of 1.56 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings data 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. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same period last year, the business posted $5.55 EPS. Caterpillar’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities analysts anticipate that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar declared that its board has approved a stock buyback program on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

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.