Caterpillar Inc. (NYSE:CAT) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its holdings in Caterpillar Inc. (NYSE:CAT) by 52.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,448 shares of the industrial products company’s stock after purchasing an additional 6,008 shares during the period. Public Sector Pension Investment Board’s holdings in Caterpillar were worth $5,812,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Altshuler Shaham Ltd raised its position in Caterpillar by 3,319.7% during the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after acquiring an additional 266,969 shares during the period. DRW Securities LLC raised its stake in Caterpillar by 585.5% in the 2nd quarter. DRW Securities LLC now owns 8,959 shares of the industrial products company’s stock valued at $2,984,000 after purchasing an additional 7,652 shares during the last quarter. Fairscale Capital LLC purchased a new position in Caterpillar in the 2nd quarter valued at $36,000. Itau Unibanco Holding S.A. grew its holdings in shares of Caterpillar by 23.0% during the second quarter. Itau Unibanco Holding S.A. now owns 4,310 shares of the industrial products company’s stock worth $1,436,000 after buying an additional 806 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its position in Caterpillar by 32.0% during the second quarter. Fidelis Capital Partners LLC now owns 8,228 shares of the industrial products company’s stock worth $2,681,000 after acquiring an additional 1,997 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

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

Caterpillar Trading Down 2.0 %

Shares of Caterpillar stock opened at $378.35 on Thursday. The company has a fifty day simple moving average of $345.11 and a 200-day simple moving average of $345.68. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $389.43. 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 cap of $183.46 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 1.73 and a beta of 1.10.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The business had revenue of $16.69 billion for 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 business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.55 earnings per share. On average, equities analysts forecast that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar announced that its Board of Directors has authorized a stock buyback plan 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 buy up to 12.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Truist Financial restated a “buy” rating and issued a $399.00 price target (up from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday. UBS Group raised their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Citigroup started coverage on shares of Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price on the stock. Finally, 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 research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.