Montis Financial LLC Lowers Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Montis Financial LLC decreased its holdings in Caterpillar Inc. (NYSE:CAT) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,457 shares of the industrial products company’s stock after selling 64 shares during the quarter. Caterpillar makes up approximately 0.5% of Montis Financial LLC’s holdings, making the stock its 29th largest holding. Montis Financial LLC’s holdings in Caterpillar were worth $1,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of CAT. Gilbert & Cook Inc. increased its holdings in shares of Caterpillar by 3.9% during the 4th quarter. Gilbert & Cook Inc. now owns 5,059 shares of the industrial products company’s stock worth $1,496,000 after buying an additional 192 shares during the last quarter. 9258 Wealth Management LLC lifted its stake 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 valued at $1,135,000 after purchasing an additional 55 shares in the last quarter. Rollins Financial grew its holdings 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 position in Caterpillar by 6.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,496 shares of the industrial products company’s stock worth $420,000 after purchasing an additional 92 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its position in Caterpillar by 1.1% during the fourth quarter. Foundations Investment Advisors LLC now owns 6,158 shares of the industrial products company’s stock valued at $1,895,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Up 0.3 %

Shares of NYSE CAT opened at $335.00 on Thursday. The company has a market cap of $163.83 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 1.54 and a beta of 1.10. The stock’s 50 day simple moving average is $340.18 and its 200 day simple moving average is $343.72. 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 Inc. has a 12-month low of $223.76 and a 12-month high of $382.01.

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, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.55 earnings per share. Equities research analysts expect that Caterpillar Inc. will post 21.87 EPS for the current year.

Caterpillar announced that its board has authorized a share repurchase program on Wednesday, June 12th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CAT. Raymond James began coverage on shares of Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Bank of America reduced their price objective on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Evercore ISI lowered their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. UBS Group upped 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 restated a “buy” rating and issued a $399.00 target price (up 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $336.31.

Insider Buying and Selling at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, 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 SEC, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the sale, the insider now owns 18,515 shares in the company, valued at $6,480,250. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,668 shares of company stock worth $2,665,760. 0.33% of the stock is owned by company insiders.

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.