One Capital Management LLC Raises Stake in Caterpillar Inc. (NYSE:CAT)

One Capital Management LLC boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 173.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,665 shares of the industrial products company’s stock after acquiring an additional 1,055 shares during the period. One Capital Management LLC’s holdings in Caterpillar were worth $555,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Thompson Investment Management Inc. purchased a new position in Caterpillar during the 1st quarter valued at about $27,000. Fairman Group LLC purchased a new position in Caterpillar in the first quarter worth about $29,000. Bbjs Financial Advisors LLC purchased a new position in Caterpillar in the second quarter worth about $28,000. Financial Connections Group Inc. purchased a new position in Caterpillar in the second quarter worth about $28,000. Finally, Richardson Financial Services Inc. purchased a new position in Caterpillar in the fourth quarter worth about $27,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on CAT. Truist Financial reaffirmed 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. Raymond James began coverage on shares of Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating for the company. Evercore ISI decreased their target price on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Finally, UBS Group lifted their price target on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $336.31.

Caterpillar Stock Performance

CAT opened at $353.81 on Wednesday. The firm has a market cap of $173.03 billion, a P/E ratio of 15.97, a PEG 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 50 day simple moving average of $341.63 and a two-hundred day simple moving average of $344.27. 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 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 net margin of 16.58% and a return on equity of 59.88%. The business had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same period in the prior year, the business posted $5.55 earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. Equities analysts forecast that Caterpillar Inc. will post 21.88 earnings per share for the current fiscal year.

Caterpillar announced that its board has initiated a share buyback plan on Wednesday, June 12th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Caterpillar

In other news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction on Friday, August 30th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the sale, the insider now directly owns 18,515 shares in the company, valued at approximately $6,480,250. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is currently owned by corporate insiders.

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.