Y.D. More Investments Ltd Reduces Position in Caterpillar Inc. (NYSE:CAT)

Y.D. More Investments Ltd lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 8.8% in the second quarter, HoldingsChannel reports. The firm owned 7,444 shares of the industrial products company’s stock after selling 720 shares during the period. Y.D. More Investments Ltd’s holdings in Caterpillar were worth $2,479,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CAT. Richardson Financial Services Inc. acquired a new stake in shares of Caterpillar in the 4th quarter valued at about $27,000. Thompson Investment Management Inc. acquired a new stake in Caterpillar during the first quarter valued at approximately $27,000. Bbjs Financial Advisors LLC bought a new position in Caterpillar during the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. acquired a new position in shares of Caterpillar in the 2nd quarter worth approximately $28,000. Finally, Fairman Group LLC bought a new stake in shares of Caterpillar in the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Buying and Selling

In other Caterpillar news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $962,272.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now directly 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 can be accessed through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The stock was 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 in the company, valued at $11,750,181.12. The disclosure for this sale can be found here. Insiders have sold 7,668 shares of company stock worth $2,665,760 in the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Trading Up 0.3 %

Shares of NYSE:CAT opened at $335.00 on Thursday. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The firm has a market cap of $163.83 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.54 and a beta of 1.10. The company has a 50 day moving average of $340.18 and a 200-day moving average of $343.72.

Caterpillar (NYSE:CAT) last issued 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. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same period last year, the company posted $5.55 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, analysts anticipate that Caterpillar Inc. will post 21.87 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CAT. Raymond James initiated coverage on Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating on the stock. 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. Barclays increased their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Bank of America decreased their target price on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Truist Financial reiterated a “buy” rating and set a $399.00 price target (up from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $336.31.

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.