Mutual of America Capital Management LLC Trims Position in Caterpillar Inc. (NYSE:CAT)

Mutual of America Capital Management LLC lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 3.2% during the 2nd quarter, Holdings Channel reports. The fund owned 68,265 shares of the industrial products company’s stock after selling 2,277 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Caterpillar were worth $22,739,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Thompson Investment Management Inc. purchased a new position in shares of Caterpillar during the 1st quarter worth $27,000. Fairman Group LLC purchased a new stake in Caterpillar in the 1st quarter valued at about $29,000. Bbjs Financial Advisors LLC purchased a new stake in Caterpillar in the 2nd quarter valued at about $28,000. Financial Connections Group Inc. purchased a new stake in Caterpillar in the 2nd quarter valued at about $28,000. Finally, Richardson Financial Services Inc. purchased a new stake in Caterpillar in the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT opened at $353.81 on Wednesday. The stock has a 50 day moving average price of $341.63 and a 200 day moving average price of $344.27. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $173.03 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $382.01.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $5.55 earnings per share. Research analysts predict that Caterpillar Inc. will post 21.88 EPS for the current fiscal year.

Caterpillar announced that its board has authorized a stock buyback plan on Wednesday, June 12th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently issued reports on CAT shares. Barclays boosted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Evercore ISI reduced their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. UBS Group lifted their target price on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Bank of America dropped their target price on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Raymond James assumed 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 issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and an average price target of $336.31.

Insider Buying and Selling at Caterpillar

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

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.