Itau Unibanco Holding S.A. Increases Stock Position in Caterpillar Inc. (NYSE:CAT)

Itau Unibanco Holding S.A. boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 23.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,310 shares of the industrial products company’s stock after purchasing an additional 806 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Caterpillar were worth $1,436,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Fidelis Capital Partners LLC raised its holdings in shares of Caterpillar by 32.0% in the second quarter. Fidelis Capital Partners LLC now owns 8,228 shares of the industrial products company’s stock valued at $2,681,000 after buying an additional 1,997 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in Caterpillar during the 2nd quarter valued at approximately $3,818,000. Symmetry Investments LP lifted its position in Caterpillar by 310.1% during the 2nd quarter. Symmetry Investments LP now owns 28,300 shares of the industrial products company’s stock worth $9,427,000 after acquiring an additional 21,400 shares during the period. Alaethes Wealth LLC grew its stake in shares of Caterpillar by 1.4% in the 2nd quarter. Alaethes Wealth LLC now owns 5,517 shares of the industrial products company’s stock valued at $1,838,000 after purchasing an additional 74 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its holdings in shares of Caterpillar by 1.8% in the second quarter. Ensign Peak Advisors Inc now owns 208,187 shares of the industrial products company’s stock valued at $69,347,000 after purchasing an additional 3,780 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT opened at $368.82 on Friday. 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 company’s 50-day moving average price is $343.68 and its 200 day moving average price is $344.83. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01. The stock has a market cap of $180.37 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.56 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. During the same period in the prior year, the business earned $5.55 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, research analysts forecast that Caterpillar Inc. will post 21.88 earnings per share for the current fiscal year.

Caterpillar announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Citigroup initiated coverage on shares of Caterpillar in a research report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective on the stock. 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. Evercore ISI cut their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, UBS Group increased their target price on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research note 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $336.31.

Insiders Place Their Bets

In related news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, the director now directly 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 accessible through this link. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, 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 90 days, insiders sold 7,668 shares of company stock valued at $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.