Souders Financial Advisors Boosts Stock Position in Caterpillar Inc. (NYSE:CAT)

Souders Financial Advisors boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,657 shares of the industrial products company’s stock after purchasing an additional 29 shares during the period. Souders Financial Advisors’ holdings in Caterpillar were worth $1,218,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CAT. New Wave Wealth Advisors LLC bought a new stake in shares of Caterpillar in the second quarter valued at $405,000. New Century Financial Group LLC raised its stake in shares of Caterpillar by 16.0% during the 2nd quarter. New Century Financial Group LLC now owns 2,025 shares of the industrial products company’s stock valued at $674,000 after purchasing an additional 279 shares during the period. Aldebaran Financial Inc. raised its stake in shares of Caterpillar by 14.3% during the 2nd quarter. Aldebaran Financial Inc. now owns 657 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 82 shares during the period. 3Chopt Investment Partners LLC bought a new stake in shares of Caterpillar during the 2nd quarter valued at $289,000. Finally, SPC Financial Inc. raised its stake in shares of Caterpillar by 72.5% during the 2nd quarter. SPC Financial Inc. now owns 1,121 shares of the industrial products company’s stock valued at $373,000 after purchasing an additional 471 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CAT. Barclays boosted their price objective on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Truist Financial restated a “buy” rating and issued a $399.00 target price (up from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. Bank of America upped their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Raymond James assumed coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Caterpillar presently has an average rating of “Hold” and an average target price of $339.94.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,668 shares of company stock valued at $2,665,760. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Trading Down 0.0 %

NYSE CAT opened at $390.91 on Tuesday. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $397.22. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The stock has a 50 day simple moving average of $347.54 and a two-hundred day simple moving average of $346.82. The stock has a market cap of $191.18 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $16.91 billion. During the same quarter in the prior year, the company earned $5.55 EPS. The business’s revenue was down 3.6% compared to the same quarter last year. On average, analysts forecast that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar announced that its board has approved a share 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

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.