Caterpillar Inc. (NYSE:CAT) Shares Sold by MGO One Seven LLC

MGO One Seven LLC lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 7.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,995 shares of the industrial products company’s stock after selling 674 shares during the quarter. MGO One Seven LLC’s holdings in Caterpillar were worth $2,996,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Southland Equity Partners LLC raised its position in shares of Caterpillar by 4.0% in the 1st quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock valued at $287,000 after purchasing an additional 30 shares in the last quarter. Davis Investment Partners LLC raised its position in shares of Caterpillar by 2.1% in the 1st quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock valued at $541,000 after purchasing an additional 30 shares in the last quarter. Private Trust Co. NA raised its position in shares of Caterpillar by 0.3% in the 1st quarter. Private Trust Co. NA now owns 10,695 shares of the industrial products company’s stock valued at $3,919,000 after purchasing an additional 30 shares in the last quarter. Hilltop National Bank raised its position in shares of Caterpillar by 1.2% in the 2nd quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock valued at $878,000 after purchasing an additional 31 shares in the last quarter. Finally, Exchange Capital Management Inc. raised its position in shares of Caterpillar by 3.3% in the 1st quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company’s stock valued at $372,000 after purchasing an additional 32 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Trading Up 0.3 %

Shares of NYSE:CAT opened at $335.00 on Thursday. The company has a 50 day moving average of $340.18 and a 200-day moving average of $343.72. 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. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01.

Caterpillar (NYSE:CAT) last posted 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. The business had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm posted $5.55 earnings per share. 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 of Directors has authorized a share buyback program on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows 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 stock is undervalued.

Analysts Set New Price Targets

CAT has been the topic of several research reports. Evercore ISI dropped their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. UBS Group upped their price target on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research 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. Bank of America dropped their price target on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research report 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 equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Caterpillar has an average rating of “Hold” and a consensus target price of $336.31.

Insider Activity

In other news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’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 transaction 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 disclosure for this sale can be found here. Insiders sold 7,668 shares of company stock worth $2,665,760 over the last three months. Corporate insiders own 0.33% of the company’s stock.

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.