Caterpillar Inc. (NYSE:CAT) Shares Sold by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. trimmed its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.5% during the 2nd quarter, Holdings Channel reports. The fund owned 7,919 shares of the industrial products company’s stock after selling 39 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Caterpillar were worth $2,638,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gilbert & Cook Inc. grew its holdings in Caterpillar by 3.9% in the fourth quarter. Gilbert & Cook Inc. now owns 5,059 shares of the industrial products company’s stock valued at $1,496,000 after purchasing an additional 192 shares during the period. 9258 Wealth Management LLC grew its holdings in Caterpillar by 1.5% in the fourth quarter. 9258 Wealth Management LLC now owns 3,839 shares of the industrial products company’s stock valued at $1,135,000 after purchasing an additional 55 shares during the period. Rollins Financial grew its holdings in Caterpillar by 49.1% in the fourth quarter. Rollins Financial now owns 6,395 shares of the industrial products company’s stock valued at $1,891,000 after purchasing an additional 2,107 shares during the period. Gryphon Financial Partners LLC grew its holdings in Caterpillar by 6.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,496 shares of the industrial products company’s stock valued at $420,000 after purchasing an additional 92 shares during the period. Finally, Evoke Wealth LLC grew its holdings in Caterpillar by 18.1% in the fourth quarter. Evoke Wealth LLC now owns 1,309 shares of the industrial products company’s stock valued at $387,000 after purchasing an additional 201 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction on Wednesday, September 4th. The shares were 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 of the company’s stock, valued at $962,272.78. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other Caterpillar news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction on Wednesday, September 4th. The shares were 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 of the company’s stock, valued at $962,272.78. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar 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 completion of 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 7,668 shares of company stock worth $2,665,760 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $390.83 on Friday. Caterpillar Inc. has a one year low of $223.76 and a one year high of $397.22. The company has a market cap of $191.14 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 1.73 and a beta of 1.10. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The business’s 50 day moving average price is $345.81 and its 200 day moving average price is $345.99.

Caterpillar (NYSE:CAT) last posted its 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 for the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter in the previous year, the business earned $5.55 earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, research analysts predict that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar announced that its Board of Directors has authorized a share buyback plan on Wednesday, June 12th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have commented on CAT shares. Barclays raised their price objective on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Truist Financial reissued a “buy” rating and issued a $399.00 price objective (up from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Citigroup initiated coverage on Caterpillar in a research report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price on the stock. Evercore ISI decreased their target price 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. Finally, Raymond James initiated coverage on Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Hold” and a consensus price target of $336.31.

About Caterpillar

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.