Granite FO LLC Invests $228,000 in Caterpillar Inc. (NYSE:CAT)

Granite FO LLC acquired a new position in shares of Caterpillar Inc. (NYSE:CAT) during the second quarter, HoldingsChannel.com reports. The firm acquired 685 shares of the industrial products company’s stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. lifted its position 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 buying an additional 192 shares during the last quarter. 9258 Wealth Management LLC lifted its holdings in shares of Caterpillar by 1.5% in the 4th quarter. 9258 Wealth Management LLC now owns 3,839 shares of the industrial products company’s stock worth $1,135,000 after acquiring an additional 55 shares during the last quarter. Rollins Financial boosted its position in shares of Caterpillar by 49.1% during the 4th quarter. Rollins Financial now owns 6,395 shares of the industrial products company’s stock worth $1,891,000 after purchasing an additional 2,107 shares during the period. Gryphon Financial Partners LLC increased its holdings in Caterpillar by 6.6% in the 4th 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 last quarter. Finally, Evoke Wealth LLC raised its position 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. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

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

Caterpillar Price Performance

Shares of CAT opened at $391.08 on Monday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $397.22. The stock has a market cap of $191.26 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. The firm has a fifty day moving average price of $346.68 and a 200 day moving average price of $346.44.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.46. The business had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the business earned $5.55 EPS. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar declared that its board has authorized a share repurchase plan on Wednesday, June 12th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CAT shares. 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. Citigroup began coverage on Caterpillar in a research report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price for the company. Barclays raised their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Raymond James began coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Finally, UBS Group raised their price target on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.