Advisory Alpha LLC Has $1.36 Million Stake in Caterpillar Inc. (NYSE:CAT)

Advisory Alpha LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 17.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,081 shares of the industrial products company’s stock after purchasing an additional 595 shares during the period. Advisory Alpha LLC’s holdings in Caterpillar were worth $1,360,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Richardson Financial Services Inc. bought a new stake in shares of Caterpillar during the fourth quarter worth approximately $27,000. Thompson Investment Management Inc. bought a new stake in shares of Caterpillar during the first quarter worth approximately $27,000. Bbjs Financial Advisors LLC bought a new stake in shares of Caterpillar during the second quarter worth approximately $28,000. Financial Connections Group Inc. bought a new stake in shares of Caterpillar during the second quarter worth approximately $28,000. Finally, Fairman Group LLC bought a new stake in shares of Caterpillar during the first quarter worth approximately $29,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the firm’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 completion of 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 SEC, which can be accessed through the SEC website. In related news, insider Anthony D. Fassino sold 3,185 shares of the firm’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 completion of 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 SEC, which can be accessed through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction dated 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 completion of the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,668 shares of company stock valued at $2,665,760. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Citigroup assumed coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target for the company. Bank of America increased their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday. UBS Group increased their target price on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Barclays increased their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Finally, Truist Financial reiterated 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. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $339.94.

Caterpillar Trading Up 0.3 %

Shares of NYSE:CAT opened at $392.40 on Wednesday. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $397.22. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The company’s fifty day simple moving average is $348.50 and its 200 day simple moving average is $347.14. The firm has a market cap of $191.90 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.73 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The business had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the business posted $5.55 earnings per share. As a group, research analysts forecast that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar declared 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 buy up to 12.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.