Second Line Capital LLC Makes New $216,000 Investment in Caterpillar Inc. (NYSE:CAT)

Second Line Capital LLC bought a new stake in Caterpillar Inc. (NYSE:CAT) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 551 shares of the industrial products company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CAT. Geode Capital Management LLC increased its stake in Caterpillar by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock worth $3,987,206,000 after buying an additional 67,148 shares during the period. Fisher Asset Management LLC lifted its stake in Caterpillar by 2.3% in the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after buying an additional 205,012 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Caterpillar by 2.0% during the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after purchasing an additional 75,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Caterpillar by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock valued at $1,418,793,000 after purchasing an additional 64,452 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Caterpillar by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock worth $1,262,290,000 after purchasing an additional 8,088 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity

In related news, insider Cheryl H. Johnson sold 2,664 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the completion of the transaction, the insider now owns 12,951 shares of the company’s stock, valued at $4,906,356.84. This represents a 17.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the transaction, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. The trade was a 36.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,868 shares of company stock worth $9,679,489. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Stock Performance

NYSE:CAT opened at $388.44 on Wednesday. The stock has a 50 day simple moving average of $393.01 and a 200 day simple moving average of $359.52. The stock has a market cap of $187.54 billion, a P/E ratio of 18.01, a PEG ratio of 1.97 and a beta of 1.10. Caterpillar Inc. has a 1-year low of $259.12 and a 1-year high of $418.50. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. Caterpillar’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the business earned $5.52 EPS. Research analysts anticipate that Caterpillar Inc. will post 21.67 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.45%. Caterpillar’s dividend payout ratio is currently 26.15%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CAT shares. Citigroup raised their price objective on shares of Caterpillar from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday. Jefferies Financial Group upped their price target on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Robert W. Baird upped their price target on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Finally, UBS Group boosted their target price on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $374.69.

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.