SPC Financial Inc. Has $373,000 Stock Position in Caterpillar Inc. (NYSE:CAT)

SPC Financial Inc. lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 72.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,121 shares of the industrial products company’s stock after buying an additional 471 shares during the period. SPC Financial Inc.’s holdings in Caterpillar were worth $373,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CAT. Richardson Financial Services Inc. acquired a new position in Caterpillar in the 4th quarter worth about $27,000. Thompson Investment Management Inc. bought a new stake in shares of Caterpillar during the first quarter worth about $27,000. Bbjs Financial Advisors LLC acquired a new position in shares of Caterpillar in the second quarter valued at approximately $28,000. Financial Connections Group Inc. bought a new position in Caterpillar in the 2nd quarter valued at approximately $28,000. Finally, Fairman Group LLC bought a new stake in Caterpillar during the 1st quarter worth approximately $29,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

Shares of NYSE CAT opened at $392.40 on Wednesday. The firm has a market capitalization of $191.90 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.73 and a beta of 1.10. The firm’s 50-day moving average price is $348.50 and its 200-day moving average price is $347.14. 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 Inc. has a 1-year low of $223.76 and a 1-year high of $397.22.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same period in the prior year, the business earned $5.55 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts anticipate that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

CAT has been the subject of several analyst reports. UBS Group raised their price target on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Citigroup started coverage on Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price for the company. Raymond James initiated coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating for the company. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Evercore ISI decreased their target price on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $339.94.

Insider Activity at Caterpillar

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Caterpillar news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was bought 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 approximately $962,272.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the completion of the transaction, the insider now directly owns 18,515 shares in the company, valued at approximately $6,480,250. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is owned by company insiders.

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.