Centennial Bank AR Buys 130 Shares of Caterpillar Inc. (NYSE:CAT)

Centennial Bank AR increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 99.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 261 shares of the industrial products company’s stock after buying an additional 130 shares during the quarter. Centennial Bank AR’s holdings in Caterpillar were worth $87,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Caterpillar by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock valued at $14,296,641,000 after buying an additional 129,216 shares during the last quarter. Capital World Investors increased its position in shares of Caterpillar by 0.3% during the fourth quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock valued at $8,583,372,000 after acquiring an additional 96,479 shares during the last quarter. Fisher Asset Management LLC boosted its position in Caterpillar by 2.2% in the fourth quarter. Fisher Asset Management LLC now owns 8,139,040 shares of the industrial products company’s stock worth $2,406,471,000 after purchasing an additional 173,108 shares during the last quarter. Legal & General Group Plc grew its stake in Caterpillar by 2.0% in the 2nd 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 increased its position in shares of Caterpillar by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after purchasing an additional 165,358 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Caterpillar

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the business’s 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 $962,272.78. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average price 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 disclosure for this purchase can be found here. In the last three months, insiders have sold 7,668 shares of company stock worth $2,665,760. 0.33% of the stock is currently owned by insiders.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $392.40 on Wednesday. The stock has a market cap of $191.90 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 1.73 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. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $397.22. The stock’s 50-day moving average is $348.50 and its 200 day moving average is $347.14.

Caterpillar (NYSE:CAT) last posted 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%. Caterpillar’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the company earned $5.55 EPS. On average, sell-side analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar declared that its board has authorized a stock buyback program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Truist Financial restated a “buy” rating and set a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. UBS Group lifted their price target on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Bank of America increased their price objective on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday. Raymond James began coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Barclays increased their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $339.94.

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.