Caterpillar Inc. (NYSE:CAT) Shares Bought by Anchor Investment Management LLC

Anchor Investment Management LLC boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 3.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,941 shares of the industrial products company’s stock after purchasing an additional 489 shares during the quarter. Anchor Investment Management LLC’s holdings in Caterpillar were worth $4,311,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. purchased a new stake in Caterpillar in the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. purchased a new stake in shares of Caterpillar during the 1st quarter valued at $27,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar during the 2nd quarter worth $28,000. Financial Connections Group Inc. purchased a new position in shares of Caterpillar in the 2nd quarter worth $28,000. Finally, Fairman Group LLC acquired a new position in Caterpillar in the first quarter valued at $29,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Up 0.4 %

Shares of NYSE:CAT opened at $394.09 on Thursday. The firm has a market cap of $192.73 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. The company has a fifty day simple moving average of $349.66 and a 200 day simple moving average of $347.47. The company has a current ratio of 1.28, a quick ratio of 0.78 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 $397.22.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating 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 company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.55 EPS. On average, equities research analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar announced that its board has authorized 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 usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays lifted their price objective on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. UBS Group boosted their price objective 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. Truist Financial reissued a “buy” rating and issued a $399.00 target price (up previously from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. Raymond James began coverage on shares of Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating for the company. Finally, StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $339.94.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Caterpillar news, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the completion of the transaction, the insider now directly owns 18,515 shares of the company’s stock, valued at $6,480,250. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,668 shares of company stock worth $2,665,760. 0.33% of the stock is currently owned by corporate insiders.

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.