Centennial Bank AR Purchases 130 Shares of Caterpillar Inc. (NYSE:CAT)

Centennial Bank AR increased its position in Caterpillar Inc. (NYSE:CAT) by 99.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 261 shares of the industrial products company’s stock after acquiring an additional 130 shares during the quarter. Centennial Bank AR’s holdings in Caterpillar were worth $87,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CAT. Thompson Investment Management Inc. bought a new stake in Caterpillar during the first quarter valued at about $27,000. Fairman Group LLC bought a new position in shares of Caterpillar in the first quarter worth about $29,000. Bbjs Financial Advisors LLC bought a new position in shares of Caterpillar in the second quarter worth about $28,000. Financial Connections Group Inc. bought a new position in shares of Caterpillar in the second quarter worth about $28,000. Finally, Richardson Financial Services Inc. bought a new position in shares of Caterpillar in the fourth quarter worth about $27,000. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Citigroup assumed coverage on Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price objective on the stock. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Raymond James initiated coverage on Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating on the stock. UBS Group increased their price target on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Finally, Truist Financial reiterated a “buy” rating and issued a $399.00 price target (up from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $339.94.

Insider Activity

In related news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The shares were acquired 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 owns 2,842 shares in the company, valued at $962,272.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, 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. Over the last three months, insiders have sold 7,668 shares of company stock worth $2,665,760. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 0.3 %

NYSE:CAT opened at $392.40 on Wednesday. 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 stock’s fifty day moving average is $348.50 and its two-hundred day moving average is $347.14. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $397.22. The stock has a market capitalization of $191.90 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10.

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

Caterpillar declared that its Board of Directors has initiated a stock repurchase program on Wednesday, June 12th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is 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.