WealthTrust Asset Management LLC Sells 120 Shares of Caterpillar Inc. (NYSE:CAT)

WealthTrust Asset Management LLC decreased its holdings in Caterpillar Inc. (NYSE:CAT) by 3.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 3,061 shares of the industrial products company’s stock after selling 120 shares during the period. WealthTrust Asset Management LLC’s holdings in Caterpillar were worth $1,020,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Acadian Asset Management LLC grew its position in Caterpillar by 17.2% in the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after acquiring an additional 1,327 shares during the period. Diversify Advisory Services LLC acquired a new stake in shares of Caterpillar during the 1st quarter worth about $926,000. Natixis Advisors LLC lifted its holdings in Caterpillar by 3.5% during the 2nd quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock valued at $92,688,000 after purchasing an additional 9,321 shares during the last quarter. Bailard Inc. boosted its position in Caterpillar by 3.1% in the second quarter. Bailard Inc. now owns 13,435 shares of the industrial products company’s stock valued at $4,475,000 after buying an additional 398 shares in the last quarter. Finally, Aigen Investment Management LP bought a new stake in Caterpillar during the fourth quarter worth about $222,000. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Up 5.2 %

Shares of Caterpillar stock opened at $373.41 on Friday. The business has a fifty day simple moving average of $343.01 and a 200 day simple moving average of $344.54. The stock has a market cap of $182.62 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results 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. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. During the same period in the prior year, the business posted $5.55 EPS. Caterpillar’s revenue was down 3.6% on a year-over-year basis. Research analysts predict that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar announced that its Board of Directors has approved a share repurchase plan on Wednesday, June 12th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CAT shares. Bank of America cut their target price on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Barclays increased their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Raymond James started coverage on Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating for the company. Truist Financial reissued a “buy” rating and set a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Finally, Citigroup initiated coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price for the company. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $336.31.

Insider Transactions at Caterpillar

In related news, 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 value of $527,800.00. Following the completion of the sale, the insider now owns 18,515 shares in the company, valued at approximately $6,480,250. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total transaction of $527,800.00. Following the transaction, the insider now owns 18,515 shares in the company, valued at approximately $6,480,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred 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 sale, the insider now directly 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 have sold a total of 7,668 shares of company stock valued at $2,665,760 over the last three months. 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.