Envestnet Asset Management Inc. Has $182.33 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Envestnet Asset Management Inc. lowered its stake in Caterpillar Inc. (NYSE:CAT) by 8.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 547,369 shares of the industrial products company’s stock after selling 49,934 shares during the period. Envestnet Asset Management Inc. owned approximately 0.11% of Caterpillar worth $182,329,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CAT. Thompson Investment Management Inc. acquired a new position in shares of Caterpillar during the 1st quarter worth about $27,000. Fairman Group LLC acquired a new position in shares of Caterpillar during the 1st quarter worth about $29,000. Bbjs Financial Advisors LLC acquired a new position in shares of Caterpillar during the 2nd quarter worth about $28,000. Financial Connections Group Inc. acquired a new position in shares of Caterpillar during the 2nd quarter worth about $28,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of Caterpillar during the 4th quarter worth about $27,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Up 1.7 %

CAT stock opened at $345.31 on Monday. The stock has a market capitalization of $167.44 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 1.56 and a beta of 1.10. 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 business has a fifty day moving average price of $340.70 and a 200 day moving average price of $344.05. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $382.01.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company earned $5.55 EPS. Analysts expect that Caterpillar Inc. will post 21.88 EPS for the current fiscal year.

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

Analysts Set New Price Targets

Several research firms recently weighed in on CAT. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday. Truist Financial restated a “buy” rating and set a $399.00 price target (up from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. Citigroup began coverage on Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. Barclays boosted their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Finally, Raymond James began coverage on Caterpillar in a research note 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 given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $336.31.

Insider Buying and Selling at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of the firm’s 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 of the company’s stock, valued at $962,272.78. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated 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 transaction, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 7,668 shares of company stock worth $2,665,760. 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.