Y.D. More Investments Ltd Cuts Holdings in Caterpillar Inc. (NYSE:CAT)

Y.D. More Investments Ltd cut its holdings in Caterpillar Inc. (NYSE:CAT) by 8.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,444 shares of the industrial products company’s stock after selling 720 shares during the quarter. Y.D. More Investments Ltd’s holdings in Caterpillar were worth $2,479,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Jupiter Asset Management Ltd. grew its position in Caterpillar by 14.7% during the second quarter. Jupiter Asset Management Ltd. now owns 304,807 shares of the industrial products company’s stock worth $101,531,000 after buying an additional 39,064 shares during the period. American Century Companies Inc. boosted its stake in shares of Caterpillar by 5.7% during the 2nd quarter. American Century Companies Inc. now owns 504,918 shares of the industrial products company’s stock worth $168,188,000 after acquiring an additional 27,108 shares in the last quarter. Bahl & Gaynor Inc. grew its holdings in shares of Caterpillar by 20.5% in the 2nd quarter. Bahl & Gaynor Inc. now owns 5,421 shares of the industrial products company’s stock worth $1,806,000 after acquiring an additional 924 shares during the period. Hazlett Burt & Watson Inc. increased its stake in Caterpillar by 3.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 3,055 shares of the industrial products company’s stock valued at $1,017,000 after purchasing an additional 103 shares in the last quarter. Finally, Trifecta Capital Advisors LLC raised its holdings in Caterpillar by 7.1% during the second quarter. Trifecta Capital Advisors LLC now owns 20,334 shares of the industrial products company’s stock worth $6,773,000 after purchasing an additional 1,348 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CAT shares. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Raymond James initiated coverage on shares of Caterpillar in a report on Friday, June 28th. They set a “market perform” rating for the company. Barclays upped their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Bank of America dropped their price objective on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Truist Financial reaffirmed 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. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and an average price target of $336.31.

Insider Buying and Selling at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction dated 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 acquisition, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now 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 90 days, 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

CAT opened at $335.00 on Thursday. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The company’s 50 day simple moving average is $340.18 and its 200 day simple moving average is $343.72. The stock has a market capitalization of $163.83 billion, a PE ratio of 15.12, a P/E/G ratio of 1.54 and a beta of 1.10. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The company 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%. Caterpillar’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the business earned $5.55 EPS. As a group, sell-side analysts expect that Caterpillar Inc. will post 21.87 EPS for the current year.

Caterpillar declared that its board has approved a stock repurchase plan on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.