EP Wealth Advisors LLC Increases Stock Holdings in Caterpillar Inc. (NYSE:CAT)

EP Wealth Advisors LLC raised its holdings in Caterpillar Inc. (NYSE:CAT) by 11.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,632 shares of the industrial products company’s stock after buying an additional 1,166 shares during the quarter. EP Wealth Advisors LLC’s holdings in Caterpillar were worth $3,874,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CAT. Vanguard Group Inc. raised its holdings in shares of Caterpillar by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock worth $14,296,641,000 after buying an additional 129,216 shares during the last quarter. Capital World Investors lifted its position in Caterpillar by 0.3% during the 4th quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock worth $8,583,372,000 after acquiring an additional 96,479 shares during the period. Fisher Asset Management LLC grew its stake in Caterpillar by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 8,139,040 shares of the industrial products company’s stock valued at $2,406,471,000 after purchasing an additional 173,108 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Caterpillar by 2.0% in the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after purchasing an additional 75,973 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Caterpillar by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after purchasing an additional 165,358 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased 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 owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The disclosure for this purchase can be found here. Insiders sold 7,668 shares of company stock valued at $2,665,760 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CAT has been the topic of several research reports. Citigroup assumed coverage on shares of Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target on the stock. Barclays boosted their target price 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. Truist Financial reiterated a “buy” rating and set a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. UBS Group upped 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. Finally, Bank of America lifted their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $339.94.

Caterpillar Stock Down 0.0 %

CAT opened at $390.91 on Tuesday. 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 twelve month low of $223.76 and a twelve month high of $397.22. The company has a market cap of $191.18 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. The company has a 50-day moving average price of $347.54 and a 200 day moving average price of $346.82.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $16.91 billion. During the same period in the previous year, the company posted $5.55 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. Sell-side analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar announced that its board has approved a share buyback plan 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 buy up to 12.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.