Alpha Cubed Investments LLC Buys 6,212 Shares of Caterpillar Inc. (NYSE:CAT)

Alpha Cubed Investments LLC raised its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 5.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,566 shares of the industrial products company's stock after buying an additional 6,212 shares during the period. Caterpillar accounts for 2.0% of Alpha Cubed Investments LLC's holdings, making the stock its 18th largest holding. Alpha Cubed Investments LLC's holdings in Caterpillar were worth $45,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Caterpillar by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company's stock worth $14,296,641,000 after buying an additional 129,216 shares during the period. Fisher Asset Management LLC raised its holdings in Caterpillar by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 8,139,040 shares of the industrial products company's stock worth $2,406,471,000 after purchasing an additional 173,108 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Caterpillar by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company's stock valued at $1,286,582,000 after purchasing an additional 75,973 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Caterpillar by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company's stock valued at $1,022,488,000 after acquiring an additional 165,358 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Caterpillar by 10.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company's stock valued at $702,431,000 after purchasing an additional 198,123 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Performance

Shares of CAT stock traded down $10.35 on Tuesday, hitting $387.90. 2,436,409 shares of the stock were exchanged, compared to its average volume of 2,664,746. Caterpillar Inc. has a one year low of $223.76 and a one year high of $401.17. The firm's 50 day moving average is $352.59 and its two-hundred day moving average is $348.22. The firm has a market capitalization of $189.70 billion, a PE ratio of 17.57, a P/E/G ratio of 1.73 and a beta of 1.10. 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 - Get Free Report) 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. The company had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. Caterpillar's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $5.55 EPS. Sell-side analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 12th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Caterpillar

In other news, insider Anthony D. Fassino sold 3,185 shares of the 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 sale, the insider now directly owns 33,442 shares of the company's stock, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Anthony D. Fassino sold 3,185 shares of the business's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares of the company's stock, valued at $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 7,668 shares of company stock worth $2,665,760. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CAT shares. Bank of America boosted their target price on shares of Caterpillar from $376.00 to $434.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Evercore ISI reduced their target price on Caterpillar from $338.00 to $321.00 and set an "in-line" rating for the company in a research note on Monday, August 19th. Raymond James began coverage on Caterpillar in a research note on Friday, June 28th. They set a "market perform" rating on the stock. Barclays upped their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 7th. Finally, StockNews.com cut shares of Caterpillar from a "buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $339.94.

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.