Callan Capital LLC Has $717,000 Position in Caterpillar Inc. (NYSE:CAT)

Callan Capital LLC increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 38.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,152 shares of the industrial products company’s stock after acquiring an additional 602 shares during the quarter. Callan Capital LLC’s holdings in Caterpillar were worth $717,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CAT. Gilbert & Cook Inc. boosted its stake in Caterpillar by 3.9% in the 4th quarter. Gilbert & Cook Inc. now owns 5,059 shares of the industrial products company’s stock valued at $1,496,000 after purchasing an additional 192 shares during the period. 9258 Wealth Management LLC lifted its position in shares of Caterpillar by 1.5% during the 4th quarter. 9258 Wealth Management LLC now owns 3,839 shares of the industrial products company’s stock worth $1,135,000 after buying an additional 55 shares during the last quarter. Rollins Financial lifted its position in shares of Caterpillar by 49.1% during the 4th quarter. Rollins Financial now owns 6,395 shares of the industrial products company’s stock worth $1,891,000 after buying an additional 2,107 shares during the last quarter. Gryphon Financial Partners LLC lifted its position in shares of Caterpillar by 6.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,496 shares of the industrial products company’s stock worth $420,000 after buying an additional 92 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Caterpillar during the 4th quarter worth $278,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Up 5.2 %

Shares of Caterpillar stock opened at $373.41 on Friday. The stock’s 50-day moving average is $343.01 and its 200 day moving average is $344.54. The firm has a market cap of $182.62 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.56 and a beta of 1.10. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01.

Caterpillar (NYSE:CAT) last announced its quarterly 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. The business had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.55 earnings per share. Equities research analysts anticipate that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar announced that its Board of Directors has approved a share buyback plan on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

CAT has been the subject of several recent analyst reports. Raymond James started coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating for the company. Truist Financial reaffirmed a “buy” rating and issued a $399.00 target price (up previously from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. UBS Group increased their price target on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Finally, Citigroup initiated coverage on Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Caterpillar currently has an average rating of “Hold” and a consensus target price of $336.31.

Insiders Place Their Bets

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the transaction, the insider now owns 18,515 shares in the company, valued at $6,480,250. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were 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 $6,480,250. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,668 shares of company stock worth $2,665,760. Corporate insiders own 0.33% of the company’s stock.

Caterpillar 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.