Lyell Wealth Management LP Buys 820 Shares of Caterpillar Inc. (NYSE:CAT)

Lyell Wealth Management LP raised its stake in Caterpillar Inc. (NYSE:CAT) by 2.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,367 shares of the industrial products company’s stock after purchasing an additional 820 shares during the period. Caterpillar makes up approximately 1.1% of Lyell Wealth Management LP’s holdings, making the stock its 24th biggest position. Lyell Wealth Management LP’s holdings in Caterpillar were worth $11,781,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CAT. Private Trust Co. NA lifted its holdings in shares of Caterpillar by 0.3% during the 1st quarter. Private Trust Co. NA now owns 10,695 shares of the industrial products company’s stock worth $3,919,000 after acquiring an additional 30 shares during the period. Southland Equity Partners LLC lifted its holdings in shares of Caterpillar by 4.0% during the 1st quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after acquiring an additional 30 shares during the period. Davis Investment Partners LLC lifted its holdings in shares of Caterpillar by 2.1% during the 1st quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock worth $541,000 after acquiring an additional 30 shares during the period. Hilltop National Bank lifted its holdings in shares of Caterpillar by 1.2% during the 2nd quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock worth $878,000 after acquiring an additional 31 shares during the period. Finally, Exchange Capital Management Inc. lifted its holdings in shares of Caterpillar by 3.3% during the 1st quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company’s stock worth $372,000 after acquiring an additional 32 shares during the period. 70.98% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the completion of the transaction, the insider now owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The disclosure for this sale can be found here. Insiders sold 7,668 shares of company stock worth $2,665,760 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of analyst reports. Evercore ISI reduced their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Citigroup started coverage on shares of Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price for the company. Truist Financial reissued a “buy” rating and set a $399.00 price target (up from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. UBS Group lifted their price target 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, Barclays lifted 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. 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. According to MarketBeat.com, Caterpillar currently has an average rating of “Hold” and a consensus target price of $336.31.

Caterpillar Stock Up 1.7 %

Shares of NYSE CAT opened at $345.31 on Friday. The stock has a market cap 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. The firm has a 50 day moving average price of $340.70 and a 200 day moving average price of $343.95. 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 Inc. has a 52-week low of $223.76 and a 52-week high of $382.01.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.55 earnings per share. Analysts expect that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar declared that its Board of Directors has approved a stock buyback program on Wednesday, June 12th that allows the company to buyback $20.00 billion in 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 management 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.