Caterpillar Inc. (NYSE:CAT) Holdings Decreased by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 5.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,168 shares of the industrial products company’s stock after selling 580 shares during the period. HBK Sorce Advisory LLC’s holdings in Caterpillar were worth $3,054,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CAT. Norges Bank bought a new position in Caterpillar during the fourth quarter worth about $1,660,560,000. Canada Pension Plan Investment Board increased its position in shares of Caterpillar by 306.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock valued at $149,385,000 after buying an additional 307,479 shares in the last quarter. Swedbank AB bought a new stake in Caterpillar during the 1st quarter worth approximately $97,042,000. Capital International Investors increased its position in shares of Caterpillar by 99.9% during the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock worth $179,060,000 after acquiring an additional 244,253 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in Caterpillar by 104.6% in the 2nd quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock worth $128,768,000 after purchasing an additional 200,134 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction that occurred 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 owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gerald Johnson purchased 100 shares of the company’s 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 directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The disclosure for this purchase can be found here. Insiders have sold a total of 7,668 shares of company stock worth $2,665,760 over the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CAT shares. Truist Financial reiterated a “buy” rating and set a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a report on Friday. Raymond James started coverage on shares of Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating for the company. UBS Group upped their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Finally, Bank of America decreased their target price on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Caterpillar has an average rating of “Hold” and a consensus target price of $336.31.

Caterpillar Stock Up 1.4 %

Shares of CAT stock opened at $339.59 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The company has a market cap of $164.67 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. The stock’s fifty day moving average price is $340.36 and its 200 day moving average price is $343.69. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01.

Caterpillar (NYSE:CAT) last posted its quarterly 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 company had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $5.55 earnings per share. On average, research analysts expect that Caterpillar Inc. will post 21.88 earnings per share for the current fiscal year.

Caterpillar declared that its Board of Directors has authorized a share 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

About Caterpillar

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.