Silver Lake Advisory LLC Purchases New Holdings in Caterpillar Inc. (NYSE:CAT)

Silver Lake Advisory LLC acquired a new position in shares of Caterpillar Inc. (NYSE:CAT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 968 shares of the industrial products company’s stock, valued at approximately $322,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAT. Magnolia Capital Advisors LLC acquired a new position in Caterpillar in the second quarter valued at about $742,000. Copperwynd Financial LLC acquired a new position in shares of Caterpillar in the 2nd quarter valued at approximately $439,000. Doheny Asset Management CA lifted its holdings in shares of Caterpillar by 11.7% during the 2nd quarter. Doheny Asset Management CA now owns 621 shares of the industrial products company’s stock worth $207,000 after acquiring an additional 65 shares during the period. Creative Planning increased its stake in Caterpillar by 10.1% in the second quarter. Creative Planning now owns 224,143 shares of the industrial products company’s stock valued at $74,662,000 after acquiring an additional 20,535 shares during the last quarter. Finally, Aviso Wealth Management raised its position in Caterpillar by 14.9% during the second quarter. Aviso Wealth Management now owns 954 shares of the industrial products company’s stock valued at $318,000 after purchasing an additional 124 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The disclosure for this purchase can be found here. Insiders have sold 7,668 shares of company stock valued at $2,665,760 in the last ninety days. 0.33% of the stock is owned by company insiders.

Caterpillar Trading Up 0.0 %

Shares of CAT stock opened at $391.08 on Monday. The stock has a 50-day moving average of $346.68 and a 200-day moving average of $346.44. 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 stock has a market cap of $191.26 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.73 and a beta of 1.10. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $397.22.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) 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 firm 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 company earned $5.55 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts forecast that Caterpillar Inc. will post 21.91 earnings per share 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 shares. This repurchase authorization permits the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CAT shares. Citigroup started coverage on Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target on the stock. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. UBS Group lifted their price target on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Truist Financial restated a “buy” rating and issued a $399.00 target price (up previously from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Finally, Evercore ISI lowered their price target 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. Two 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $336.31.

Caterpillar Company 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.