Fiduciary Group LLC Sells 30 Shares of Caterpillar Inc. (NYSE:CAT)

Fiduciary Group LLC cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,167 shares of the industrial products company’s stock after selling 30 shares during the quarter. Fiduciary Group LLC’s holdings in Caterpillar were worth $722,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CAT. Hardin Capital Partners LLC acquired a new position in Caterpillar in the second quarter valued at $494,000. RS Crum Inc. raised its holdings in Caterpillar by 2.4% during the second quarter. RS Crum Inc. now owns 4,430 shares of the industrial products company’s stock worth $1,476,000 after buying an additional 105 shares during the last quarter. TradeLink Capital LLC acquired a new position in Caterpillar during the 2nd quarter valued at about $600,000. Meeder Advisory Services Inc. grew its holdings in Caterpillar by 31.7% during the second quarter. Meeder Advisory Services Inc. now owns 11,990 shares of the industrial products company’s stock worth $3,994,000 after buying an additional 2,889 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Caterpillar by 5.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 394,209 shares of the industrial products company’s stock worth $129,289,000 after acquiring an additional 21,381 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Evercore ISI dropped their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday. Bank of America cut their price objective on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Truist Financial restated a “buy” rating and issued a $399.00 target price (up previously from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Finally, Raymond James started coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $336.31.

Caterpillar Trading Up 1.7 %

Shares of CAT opened at $345.31 on Friday. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01. The firm has a market capitalization of $167.44 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 1.56 and a beta of 1.10. The firm’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.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The company had revenue of $16.69 billion during 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 firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $5.55 EPS. Sell-side analysts anticipate that Caterpillar Inc. will post 21.88 EPS for the current year.

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

Insider Buying and Selling

In other 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 completion of the transaction, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction on 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 completion of the transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was bought 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 of the company’s stock, valued at approximately $962,272.78. The disclosure for this purchase can be found here. Insiders have sold 7,668 shares of company stock valued at $2,665,760 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

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.