Angeles Wealth Management LLC Grows Stock Position in Caterpillar Inc. (NYSE:CAT)

Angeles Wealth Management LLC increased its holdings in Caterpillar Inc. (NYSE:CAT) by 9.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 916 shares of the industrial products company’s stock after buying an additional 79 shares during the period. Angeles Wealth Management LLC’s holdings in Caterpillar were worth $305,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CAT. Richardson Financial Services Inc. purchased a new position in Caterpillar in the 4th quarter valued at about $27,000. Thompson Investment Management Inc. purchased a new position in Caterpillar in the 1st quarter valued at about $27,000. Bbjs Financial Advisors LLC purchased a new position in Caterpillar in the 2nd quarter valued at about $28,000. Financial Connections Group Inc. purchased a new position in Caterpillar in the 2nd quarter valued at about $28,000. Finally, Fairman Group LLC purchased a new position in Caterpillar in the 1st quarter valued at about $29,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group upped their target price on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Truist Financial restated a “buy” rating and issued a $399.00 target price (up from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Evercore ISI cut their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. Finally, Raymond James initiated coverage on shares of Caterpillar in a report on Friday, June 28th. They set a “market perform” rating on the stock. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $336.31.

Caterpillar Stock Up 0.3 %

CAT opened at $335.00 on Thursday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The firm has a 50 day moving average price of $340.18 and a 200 day moving average price of $343.72. The company has a market cap of $163.83 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.54 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) 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 company 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 company earned $5.55 earnings per share. Caterpillar’s revenue for the quarter was down 3.6% on a year-over-year basis. Sell-side analysts expect that Caterpillar Inc. will post 21.87 earnings per share for the current year.

Caterpillar declared that its board has approved a stock buyback plan on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of the stock in a transaction on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Gerald Johnson acquired 100 shares of the stock in a transaction on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the transaction, the insider now owns 18,515 shares of the company’s stock, valued at $6,480,250. The disclosure for this sale can be found here. Insiders sold 7,668 shares of company stock valued at $2,665,760 over the last 90 days. 0.33% of the stock is owned by corporate insiders.

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.