Wealth Dimensions Group Ltd. Cuts Stock Position in Caterpillar Inc. (NYSE:CAT)

Wealth Dimensions Group Ltd. decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 7.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 819 shares of the industrial products company’s stock after selling 70 shares during the period. Wealth Dimensions Group Ltd.’s holdings in Caterpillar were worth $273,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAT. Black Diamond Financial LLC purchased a new position in Caterpillar during the second quarter valued at $231,000. Capital Wealth Planning LLC lifted its stake in Caterpillar by 6.4% in the 2nd quarter. Capital Wealth Planning LLC now owns 1,381,453 shares of the industrial products company’s stock valued at $460,162,000 after buying an additional 83,571 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new stake in Caterpillar in the 2nd quarter worth about $1,837,000. Tennessee Valley Asset Management Partners raised its holdings in shares of Caterpillar by 5.6% during the second quarter. Tennessee Valley Asset Management Partners now owns 1,745 shares of the industrial products company’s stock valued at $581,000 after acquiring an additional 93 shares during the last quarter. Finally, Rathbones Group PLC lifted its position in shares of Caterpillar by 11.4% in the second quarter. Rathbones Group PLC now owns 206,750 shares of the industrial products company’s stock valued at $68,868,000 after acquiring an additional 21,094 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Bank of America decreased their price objective on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday. Truist Financial reiterated a “buy” rating and issued a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Barclays upped their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Raymond James started coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Caterpillar presently has an average rating of “Hold” and a consensus price target of $336.31.

Insider Buying and Selling

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated 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 completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the transaction, the insider now directly owns 18,515 shares in the company, valued at $6,480,250. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $11,750,181.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,668 shares of company stock valued at $2,665,760. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Shares of CAT opened at $345.31 on Monday. The firm has a 50-day simple moving average of $340.70 and a two-hundred day simple moving average of $344.05. The stock has a market cap of $167.44 billion, a PE ratio of 15.59, a P/E/G ratio of 1.56 and a beta of 1.10. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78.

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

Caterpillar announced that its board has authorized a share buyback program 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 purchase up to 12.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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.