Vanguard Personalized Indexing Management LLC Acquires 4,348 Shares of Caterpillar Inc. (NYSE:CAT)

by · The Markets Daily

Vanguard Personalized Indexing Management LLC lifted its holdings in Caterpillar Inc. (NYSE:CAT – Free Report) by 9.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,012 shares of the industrial products company’s stock after acquiring an additional 4,348 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Caterpillar were worth $16,103,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CAT. Richardson Financial Services Inc. bought a new position in Caterpillar during the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. bought a new position in Caterpillar during the first quarter valued at approximately $27,000. Bbjs Financial Advisors LLC bought a new position in Caterpillar during the second quarter valued at approximately $28,000. Financial Connections Group Inc. bought a new position in Caterpillar during the second quarter valued at approximately $28,000. Finally, Fairman Group LLC bought a new position in Caterpillar during the first quarter valued at approximately $29,000. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Evercore ISI decreased their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Truist Financial restated a “buy” rating and set a $399.00 price objective (up from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Bank of America decreased their price objective on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Raymond James assumed coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating on the stock. 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $336.31.

Get Our Latest Report on Caterpillar

Caterpillar Stock Up 1.7 %

Shares of CAT stock opened at $353.81 on Wednesday. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01. The stock’s fifty day moving average price is $341.63 and its 200 day moving average price is $344.27. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The company has a market cap of $173.03 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10.

Caterpillar (NYSE:CAT – Get Free Report) last announced 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 return on equity of 59.88% and a net margin of 16.58%. The firm had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same period in the previous year, the business earned $5.55 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, research analysts expect that Caterpillar Inc. will post 21.88 earnings per share for the current fiscal year.

Caterpillar declared that its Board of Directors has initiated a stock buyback plan on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated 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 sale, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated 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 sale, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the sale, the insider now directly owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is owned by company insiders.

Caterpillar Company Profile

(Free Report)

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.

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