Caterpillar Inc. (NYSE:CAT) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 11.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 662,524 shares of the industrial products company’s stock after selling 85,173 shares during the period. ProShare Advisors LLC owned 0.14% of Caterpillar worth $220,687,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CAT. Gilbert & Cook Inc. boosted its holdings in shares of Caterpillar by 3.9% during the 4th quarter. Gilbert & Cook Inc. now owns 5,059 shares of the industrial products company’s stock worth $1,496,000 after purchasing an additional 192 shares during the last quarter. 9258 Wealth Management LLC boosted its holdings 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 purchasing an additional 55 shares during the last quarter. Rollins Financial boosted its holdings 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 purchasing an additional 2,107 shares during the last quarter. Gryphon Financial Partners LLC raised 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 valued at $420,000 after buying an additional 92 shares during the period. Finally, Quest Partners LLC purchased a new stake in shares of Caterpillar during the 4th quarter valued at approximately $278,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

NYSE:CAT opened at $368.82 on Friday. The company has a fifty day simple moving average of $343.68 and a two-hundred day simple moving average of $344.83. The company has a market cap of $180.37 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01.

Caterpillar (NYSE:CAT) last issued 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 firm had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.55 earnings per share. As a group, equities analysts anticipate that Caterpillar Inc. will post 21.88 earnings per share for the current fiscal year.

Caterpillar declared that its board has initiated a stock repurchase 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 reacquire up to 12.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Gerald Johnson bought 100 shares of the 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 completion of the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction 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 purchase, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 7,668 shares of company stock worth $2,665,760. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CAT. Barclays lifted their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. UBS Group lifted their price target on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Citigroup began coverage on shares of Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. Raymond James began coverage on shares of Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Truist Financial reaffirmed a “buy” rating and set a $399.00 price target (up previously from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $336.31.

About Caterpillar

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.