Caterpillar Inc. (NYSE:CAT) Shares Sold by Greater Midwest Financial Group LLC

Greater Midwest Financial Group LLC lessened its position in shares of Caterpillar Inc. (NYSE:CAT) by 34.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,298 shares of the industrial products company’s stock after selling 2,745 shares during the quarter. Caterpillar comprises approximately 0.8% of Greater Midwest Financial Group LLC’s portfolio, making the stock its 22nd largest position. Greater Midwest Financial Group LLC’s holdings in Caterpillar were worth $1,788,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Thompson Investment Management Inc. acquired a new position in shares of Caterpillar in the 1st quarter valued at $27,000. Fairman Group LLC acquired a new position in Caterpillar in the first quarter valued at about $29,000. Bbjs Financial Advisors LLC purchased a new position in Caterpillar during the second quarter worth about $28,000. Financial Connections Group Inc. acquired a new stake in shares of Caterpillar during the second quarter valued at about $28,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Caterpillar in the 4th quarter valued at approximately $27,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Evercore ISI dropped their target price 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. Truist Financial reaffirmed a “buy” rating and issued a $399.00 price objective (up from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Barclays lifted their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Bank of America increased their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday. Two 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $339.94.

Insider Buying and Selling

In related news, Director Gerald Johnson purchased 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, for a total transaction 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 accessible through this hyperlink. In related news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The disclosure for this sale can be found here. Insiders sold a total of 7,668 shares of company stock worth $2,665,760 over the last 90 days. 0.33% of the stock is owned by insiders.

Caterpillar Price Performance

Shares of CAT opened at $394.09 on Thursday. The firm has a market capitalization of $192.73 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.73 and a beta of 1.10. The firm’s fifty day simple moving average is $349.66 and its 200-day simple moving average is $347.47. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $397.22. 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 (NYSE:CAT) last announced 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 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 the consensus estimate of $16.91 billion. During the same period in the previous year, the business earned $5.55 EPS. Caterpillar’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts forecast that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

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

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.