Caterpillar Inc. (NYSE:CAT) Shares Sold by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. lessened its holdings in Caterpillar Inc. (NYSE:CAT) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,244 shares of the industrial products company’s stock after selling 153 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Caterpillar were worth $5,962,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CAT. Regency Capital Management Inc. DE grew its position in Caterpillar by 1.4% during the 3rd quarter. Regency Capital Management Inc. DE now owns 11,152 shares of the industrial products company’s stock worth $4,362,000 after purchasing an additional 156 shares during the last quarter. HBW Advisory Services LLC grew its holdings in shares of Caterpillar by 14.2% during the third quarter. HBW Advisory Services LLC now owns 709 shares of the industrial products company’s stock valued at $277,000 after buying an additional 88 shares during the last quarter. MRA Advisory Group increased its position in shares of Caterpillar by 2.7% in the 3rd quarter. MRA Advisory Group now owns 1,503 shares of the industrial products company’s stock valued at $588,000 after acquiring an additional 39 shares during the period. Park Avenue Securities LLC raised its stake in Caterpillar by 5.0% in the 3rd quarter. Park Avenue Securities LLC now owns 20,762 shares of the industrial products company’s stock worth $8,121,000 after acquiring an additional 995 shares during the last quarter. Finally, Alpha Omega Wealth Management LLC acquired a new stake in Caterpillar during the 3rd quarter worth about $207,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction 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 transaction, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. 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.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CAT. Evercore ISI reduced their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note 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 research note on Wednesday, August 7th. UBS Group increased their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Citigroup began coverage on shares of Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price for the company. Finally, Raymond James assumed coverage on Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating for the company. Two equities 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, Caterpillar presently has a consensus rating of “Hold” and a consensus price target of $339.94.

Caterpillar Price Performance

NYSE:CAT traded up $6.00 during trading hours on Friday, reaching $397.09. 1,675,430 shares of the company were exchanged, compared to its average volume of 2,668,227. 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 has a market cap of $194.20 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $397.46. The stock’s 50-day moving average is $351.52 and its 200-day moving average is $348.09.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. During the same period last year, the company posted $5.55 EPS. Caterpillar’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar declared that its board has approved a share 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 reacquire up to 12.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is 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.