Wealth Dimensions Group Ltd. Reduces Stake in Caterpillar Inc. (NYSE:CAT)

Wealth Dimensions Group Ltd. cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 7.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 819 shares of the industrial products company’s stock after selling 70 shares during the period. Wealth Dimensions Group Ltd.’s holdings in Caterpillar were worth $273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Black Diamond Financial LLC purchased a new position in Caterpillar during the second quarter worth $231,000. Capital Wealth Planning LLC boosted its stake in shares of Caterpillar by 6.4% during the 2nd quarter. Capital Wealth Planning LLC now owns 1,381,453 shares of the industrial products company’s stock worth $460,162,000 after purchasing an additional 83,571 shares during the period. Fairfield Financial Advisors LTD bought a new position in Caterpillar during the 2nd quarter valued at about $1,837,000. Tennessee Valley Asset Management Partners raised its position in Caterpillar by 5.6% in the 2nd quarter. Tennessee Valley Asset Management Partners now owns 1,745 shares of the industrial products company’s stock worth $581,000 after purchasing an additional 93 shares during the period. Finally, Rathbones Group PLC lifted its stake in Caterpillar by 11.4% in the second quarter. Rathbones Group PLC now owns 206,750 shares of the industrial products company’s stock worth $68,868,000 after purchasing an additional 21,094 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Trading Up 1.7 %

NYSE:CAT opened at $345.31 on Monday. The stock 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. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The firm has a 50 day moving average of $340.70 and a 200 day moving average of $344.05.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $16.91 billion. During the same quarter last year, the company posted $5.55 earnings per share. The business’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 21.88 earnings per share for the current fiscal year.

Caterpillar declared that its Board of Directors 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 buy up to 12.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction on 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 purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the transaction, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction that occurred on 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 completion of the acquisition, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 7,668 shares of company stock worth $2,665,760. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group upped their target price on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Raymond James began coverage on Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Citigroup began coverage on Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price for the company. Barclays upped their price target on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Finally, Truist Financial reiterated a “buy” rating and set a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $336.31.

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.