Bank of Montreal Can Has $312.48 Million Stock Position in Caterpillar Inc. (NYSE:CAT)

Bank of Montreal Can lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 4.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 876,394 shares of the industrial products company’s stock after selling 41,945 shares during the quarter. Bank of Montreal Can owned approximately 0.18% of Caterpillar worth $312,478,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CAT. Gilbert & Cook Inc. lifted its stake 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 buying an additional 192 shares during the last quarter. 9258 Wealth Management LLC raised its holdings in Caterpillar by 1.5% in the 4th quarter. 9258 Wealth Management LLC now owns 3,839 shares of the industrial products company’s stock valued at $1,135,000 after acquiring an additional 55 shares during the period. Rollins Financial lifted its position in Caterpillar by 49.1% during the fourth quarter. Rollins Financial now owns 6,395 shares of the industrial products company’s stock worth $1,891,000 after acquiring an additional 2,107 shares during the last quarter. Gryphon Financial Partners LLC boosted its holdings in shares of Caterpillar by 6.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,496 shares of the industrial products company’s stock worth $420,000 after acquiring an additional 92 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Caterpillar during the fourth quarter worth approximately $278,000. Institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CAT. Citigroup initiated coverage on Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective on the stock. Evercore ISI lowered their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. UBS Group boosted their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Truist Financial reaffirmed a “buy” rating and set a $399.00 target price (up from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Finally, StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $336.31.

Caterpillar Trading Down 1.2 %

Shares of Caterpillar stock opened at $368.82 on Monday. The firm has a market capitalization of $180.37 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. 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 firm’s 50 day moving average is $343.68 and its 200 day moving average is $344.90. Caterpillar Inc. has a 1 year low of $223.76 and a 1 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. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. During the same period in the prior year, the business earned $5.55 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts forecast that Caterpillar Inc. will post 21.88 earnings per share for the current fiscal year.

Caterpillar announced that its board has approved a share repurchase plan on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Caterpillar

In other news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now 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 can be accessed through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction 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 completion of the sale, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,668 shares of company stock worth $2,665,760. 0.33% of the stock is currently owned by insiders.

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.