Caterpillar Inc. (NYSE:CAT) Shares Bought by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. increased its holdings in Caterpillar Inc. (NYSE:CAT) by 0.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 99,095 shares of the industrial products company’s stock after acquiring an additional 568 shares during the quarter. Caterpillar comprises approximately 0.7% of Mesirow Financial Investment Management Inc.’s investment portfolio, making the stock its 29th largest holding. Mesirow Financial Investment Management Inc.’s holdings in Caterpillar were worth $33,012,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CAT. Vanguard Group Inc. boosted its stake in shares of Caterpillar by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock valued at $14,296,641,000 after buying an additional 129,216 shares during the last quarter. Capital World Investors raised its holdings in Caterpillar by 0.3% in the fourth quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock valued at $8,583,372,000 after acquiring an additional 96,479 shares in the last quarter. Fisher Asset Management LLC boosted its stake 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 valued at $2,406,471,000 after acquiring an additional 173,108 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Caterpillar by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after purchasing an additional 165,358 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Caterpillar by 6.3% in the 1st quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock valued at $740,225,000 after purchasing an additional 119,326 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of CAT opened at $345.31 on Monday. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01. The stock’s fifty day moving average is $340.70 and its 200-day moving average is $344.05. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The firm has a market capitalization of $167.44 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10.

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

Caterpillar announced that its Board of Directors has initiated a share repurchase program 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 shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar 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 transaction, 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 filing with the SEC, which is available through this hyperlink. In other news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were 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 owns 33,442 shares in the company, valued at approximately $11,750,181.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 7,668 shares of company stock valued at $2,665,760. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CAT. Bank of America lowered their price objective on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. UBS Group upped their price target on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Citigroup started coverage on shares of Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective for the company. Truist Financial reissued a “buy” rating and set a $399.00 target price (up from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Finally, Evercore ISI decreased their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $336.31.

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.