Caterpillar Inc. (NYSE:CAT) Stock Holdings Lifted by Rathbones Group PLC

Rathbones Group PLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 11.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 206,750 shares of the industrial products company’s stock after buying an additional 21,094 shares during the period. Rathbones Group PLC’s holdings in Caterpillar were worth $68,868,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Gilbert & Cook Inc. boosted its position in Caterpillar by 3.9% during the 4th quarter. Gilbert & Cook Inc. now owns 5,059 shares of the industrial products company’s stock valued at $1,496,000 after purchasing an additional 192 shares during the period. 9258 Wealth Management LLC lifted its stake in Caterpillar by 1.5% in the fourth quarter. 9258 Wealth Management LLC now owns 3,839 shares of the industrial products company’s stock valued at $1,135,000 after buying an additional 55 shares during the last quarter. Rollins Financial boosted its holdings in shares of Caterpillar by 49.1% during the fourth quarter. Rollins Financial now owns 6,395 shares of the industrial products company’s stock valued at $1,891,000 after acquiring an additional 2,107 shares during the period. Gryphon Financial Partners LLC increased its holdings in shares of Caterpillar by 6.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,496 shares of the industrial products company’s stock worth $420,000 after acquiring an additional 92 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC bought a new stake in Caterpillar in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity

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

Caterpillar Trading Up 1.7 %

Shares of CAT opened at $345.31 on Friday. The business’s 50-day moving average price is $340.70 and its 200 day moving average price is $343.95. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $167.44 billion, a P/E ratio of 15.59, a P/E/G ratio of 1.56 and a beta of 1.10. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping 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 business had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same period last year, the firm posted $5.55 earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. Analysts expect that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar declared that its Board of Directors has authorized a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup assumed coverage on shares of 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 target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Truist Financial reiterated a “buy” rating and set a $399.00 price target (up previously from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Evercore ISI lowered their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $336.31.

Caterpillar 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.