Caterpillar Inc. (NYSE:CAT) Shares Acquired by Andra AP fonden

Andra AP fonden increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,000 shares of the industrial products company’s stock after acquiring an additional 1,000 shares during the quarter. Andra AP fonden’s holdings in Caterpillar were worth $11,992,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Thompson Investment Management Inc. acquired a new stake in shares of Caterpillar during the 1st quarter worth approximately $27,000. Fairman Group LLC acquired a new stake in Caterpillar in the first quarter worth $29,000. Bbjs Financial Advisors LLC bought a new stake in Caterpillar in the second quarter valued at $28,000. Financial Connections Group Inc. acquired a new position in shares of Caterpillar during the second quarter valued at $28,000. Finally, Partnership Wealth Management LLC bought a new position in shares of Caterpillar during the fourth quarter worth about $26,000. Institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Bank of America reduced their target price on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Citigroup initiated coverage on Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective for the company. UBS Group lifted their target price on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Barclays increased their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Finally, Truist Financial restated a “buy” rating and set a $399.00 price objective (up from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Caterpillar has a consensus rating of “Hold” and an average price target of $336.31.

Insider Activity

In other news, Director Gerald Johnson acquired 100 shares of the stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other Caterpillar news, Director Gerald Johnson acquired 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, with a total value of $33,859.00. Following the purchase, the director now owns 2,842 shares in the company, valued at $962,272.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction dated 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 transaction, 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. Insiders have sold 7,668 shares of company stock worth $2,665,760 over the last 90 days. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Performance

CAT opened at $334.14 on Wednesday. The business has a fifty day simple moving average of $340.09 and a 200-day simple moving average of $343.78. The firm has a market cap of $162.02 billion, a PE ratio of 15.09, a P/E/G ratio of 1.54 and a beta of 1.10. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $382.01.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $16.91 billion. During the same quarter last year, the business posted $5.55 EPS. Caterpillar’s revenue was down 3.6% on a year-over-year basis. As a group, equities analysts predict that Caterpillar Inc. will post 21.87 EPS for the current fiscal year.

Caterpillar announced that its board has initiated a share repurchase program on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.