RiverFront Investment Group LLC Has $760,000 Position in Caterpillar Inc. (NYSE:CAT)

RiverFront Investment Group LLC trimmed its position in Caterpillar Inc. (NYSE:CAT) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,281 shares of the industrial products company’s stock after selling 30 shares during the period. RiverFront Investment Group LLC’s holdings in Caterpillar were worth $760,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CAT. Richardson Financial Services Inc. bought a new position in shares of Caterpillar during the fourth quarter worth $27,000. Thompson Investment Management Inc. acquired a new stake in Caterpillar during the 1st quarter worth $27,000. Bbjs Financial Advisors LLC bought a new position in Caterpillar during the second quarter worth about $28,000. Financial Connections Group Inc. acquired a new position in Caterpillar in the second quarter valued at about $28,000. Finally, Fairman Group LLC bought a new stake in shares of Caterpillar in the first quarter worth about $29,000. Institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Bank of America lifted their price objective on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday. 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 note on Wednesday, August 7th. Evercore ISI reduced 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. Truist Financial restated a “buy” rating and set a $399.00 price objective (up from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Finally, StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $339.94.

Insider Activity

In other news, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 completion of the transaction, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, 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 a total of 7,668 shares of company stock valued at $2,665,760 in the last quarter. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $392.40 on Wednesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The stock has a 50 day moving average price of $348.50 and a 200 day moving average price of $347.14. The stock has a market capitalization of $191.90 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $397.22.

Caterpillar (NYSE:CAT) last released its quarterly earnings data 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. The company had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.55 EPS. Analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar declared that its board has approved a stock buyback 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 purchase up to 12.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors 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.