Sompo Asset Management Co. Ltd. Purchases 60 Shares of Caterpillar Inc. (NYSE:CAT)

Sompo Asset Management Co. Ltd. lifted its holdings in Caterpillar Inc. (NYSE:CAT) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,710 shares of the industrial products company’s stock after buying an additional 60 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Caterpillar were worth $903,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Caterpillar by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock valued at $14,296,641,000 after purchasing an additional 129,216 shares during the period. Capital World Investors grew its stake in Caterpillar by 0.3% in the 4th quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock worth $8,583,372,000 after acquiring an additional 96,479 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Caterpillar by 2.2% during the fourth quarter. Fisher Asset Management LLC now owns 8,139,040 shares of the industrial products company’s stock worth $2,406,471,000 after acquiring an additional 173,108 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Caterpillar by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after purchasing an additional 165,358 shares during the period. Finally, Capital Research Global Investors increased its holdings in Caterpillar by 6.3% during the 1st quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock worth $740,225,000 after purchasing an additional 119,326 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. UBS Group raised their price target on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note 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. Bank of America cut their price target on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. 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. Finally, Raymond James started coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Caterpillar has a consensus rating of “Hold” and an average price target of $336.31.

Insiders Place Their Bets

In other news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred on Friday, August 30th. The shares were 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 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 the SEC website. In related news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction dated 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 purchase, the director now owns 2,842 shares in the company, valued at $962,272.78. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 7,668 shares of company stock worth $2,665,760. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Down 1.2 %

CAT stock opened at $368.85 on Friday. The firm’s fifty day simple moving average is $343.68 and its 200-day simple moving average is $344.75. The company has a market capitalization of $180.39 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.46. The business had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.55 EPS. As a group, equities research analysts forecast that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar declared that its Board of Directors has approved a share repurchase plan on Wednesday, June 12th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares buyback plans are usually a sign 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.