Doliver Advisors LP Increases Stake in Caterpillar Inc. (NYSE:CAT)

Doliver Advisors LP lifted its stake in Caterpillar Inc. (NYSE:CAT) by 2.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,518 shares of the industrial products company’s stock after acquiring an additional 33 shares during the period. Doliver Advisors LP’s holdings in Caterpillar were worth $594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board lifted its stake in shares of Caterpillar by 306.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock valued at $149,385,000 after buying an additional 307,479 shares in the last quarter. Altshuler Shaham Ltd boosted its stake in shares of Caterpillar by 3,319.7% in the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after acquiring an additional 266,969 shares during the period. Swedbank AB purchased a new stake in shares of Caterpillar during the first quarter worth about $97,042,000. Capital International Investors lifted its holdings in Caterpillar by 99.9% in the 1st quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock worth $179,060,000 after purchasing an additional 244,253 shares in the last quarter. Finally, National Bank of Canada FI grew its holdings in Caterpillar by 104.6% during the 2nd quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock valued at $128,768,000 after buying an additional 200,134 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now directly 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 this link. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now directly 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 is accessible through this link. Also, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at $962,272.78. The disclosure for this purchase can be found here. In the last quarter, insiders sold 7,668 shares of company stock valued at $2,665,760. Company insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Shares of CAT stock opened at $394.09 on Thursday. The company’s 50-day simple moving average is $349.66 and its two-hundred day simple moving average is $347.47. 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 one year low of $223.76 and a one year high of $397.22. The company has a market capitalization of $192.73 billion, a P/E ratio of 17.79, a P/E/G ratio of 1.73 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings data 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. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm 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 company posted $5.55 earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar announced that its Board of Directors has authorized a share buyback program 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CAT shares. 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 research report on Monday, August 19th. Truist Financial reaffirmed 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. Barclays raised their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. UBS Group raised their target price on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Finally, Citigroup began coverage on shares of Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $339.94.

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.