Traveka Wealth LLC Acquires 41 Shares of Caterpillar Inc. (NYSE:CAT)

Traveka Wealth LLC raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 3.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,178 shares of the industrial products company’s stock after acquiring an additional 41 shares during the quarter. Traveka Wealth LLC’s holdings in Caterpillar were worth $461,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board increased its position in Caterpillar by 306.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after buying an additional 307,479 shares during the period. Altshuler Shaham Ltd increased its position in Caterpillar by 3,319.7% during the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after buying an additional 266,969 shares during the period. Swedbank AB bought a new position in Caterpillar during the 1st quarter worth $97,042,000. Capital International Investors increased its position in Caterpillar by 99.9% during the 1st quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock worth $179,060,000 after buying an additional 244,253 shares during the period. Finally, National Bank of Canada FI increased its position in shares of Caterpillar by 104.6% in the second quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock worth $128,768,000 after purchasing an additional 200,134 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CAT. Truist Financial reiterated a “buy” rating and issued a $399.00 target price (up previously from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Raymond James initiated coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Bank of America lifted their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. 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 note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and an average price target of $339.94.

Caterpillar Stock Down 2.7 %

Shares of NYSE CAT traded down $10.65 during midday trading on Tuesday, hitting $387.60. 1,032,701 shares of the stock traded hands, compared to its average volume of 2,657,510. The business has a 50 day moving average price of $351.52 and a two-hundred day moving average price of $347.99. Caterpillar Inc. has a one year low of $223.76 and a one year high of $401.17. The company has a market cap of $189.56 billion, a PE ratio of 17.44, a P/E/G ratio of 1.73 and a beta of 1.10. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28.

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

Caterpillar declared that its Board of Directors has authorized a share repurchase program 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 purchase up to 12.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction 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 sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the transaction, the insider now directly owns 18,515 shares in the company, valued at approximately $6,480,250. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,668 shares of company stock worth $2,665,760. 0.33% of the stock is owned by corporate 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.