Mather Group LLC. Decreases Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Mather Group LLC. reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 51.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,168 shares of the industrial products company’s stock after selling 12,824 shares during the quarter. Mather Group LLC.’s holdings in Caterpillar were worth $4,759,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Caterpillar by 0.3% during 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 purchasing an additional 129,216 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of 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 valued at $2,406,471,000 after buying an additional 173,108 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Caterpillar by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after buying an additional 75,973 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Caterpillar by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after buying an additional 165,358 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Caterpillar by 10.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after acquiring an additional 198,123 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CAT shares. Citigroup started 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. UBS Group upped their target price on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Evercore ISI dropped their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Truist Financial restated a “buy” rating and issued a $399.00 price objective (up from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Finally, Barclays lifted their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $339.94.

Caterpillar Stock Performance

NYSE:CAT opened at $398.12 on Tuesday. The company has a market cap of $194.70 billion, a P/E ratio of 17.97, a P/E/G ratio of 1.73 and a beta of 1.10. The firm’s 50 day moving average is $351.52 and its two-hundred day moving average is $347.99. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $401.17. 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 (NYSE:CAT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share 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%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the company posted $5.55 EPS. Analysts expect that Caterpillar Inc. will post 21.91 EPS for the current year.

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

Insider Transactions at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the transaction, the insider now directly owns 18,515 shares of the company’s stock, valued at $6,480,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now owns 18,515 shares of the company’s stock, valued at $6,480,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 that occurred on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 7,668 shares of company stock worth $2,665,760. 0.33% of the stock is currently owned by company insiders.

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.