Brighton Jones LLC Has $2.18 Million Position in Caterpillar Inc. (NYSE:CAT)

Brighton Jones LLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,535 shares of the industrial products company’s stock after purchasing an additional 158 shares during the quarter. Brighton Jones LLC’s holdings in Caterpillar were worth $2,177,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CAT. Thompson Investment Management Inc. acquired a new position in Caterpillar during the 1st quarter worth approximately $27,000. Fairman Group LLC bought a new stake in shares of Caterpillar in the first quarter worth $29,000. Bbjs Financial Advisors LLC acquired a new position in Caterpillar during the second quarter worth $28,000. Financial Connections Group Inc. acquired a new position in Caterpillar during the second quarter worth $28,000. Finally, Richardson Financial Services Inc. acquired a new position in Caterpillar during the fourth quarter worth $27,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE CAT opened at $368.85 on Friday. The firm has a 50-day moving average of $343.68 and a 200-day moving average of $344.75. 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 market cap of $180.39 billion, a PE ratio of 16.65, a P/E/G ratio of 1.56 and a beta of 1.10. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $382.01.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping 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 business had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. During the same period last year, the firm earned $5.55 earnings per share. Caterpillar’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Caterpillar Inc. will post 21.88 EPS for the current year.

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

Insider Buying and Selling

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares in the company, valued at $962,272.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CAT has been the subject of several recent research reports. Raymond James initiated coverage on shares of Caterpillar in a report on Friday, June 28th. They set a “market perform” rating for the company. Citigroup initiated coverage on shares of Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price for the company. Barclays increased their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Finally, Truist Financial reiterated a “buy” rating and issued a $399.00 price target (up previously from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $336.31.

Caterpillar Company 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.