Fairscale Capital LLC Invests $36,000 in Caterpillar Inc. (NYSE:CAT)

Fairscale Capital LLC bought a new stake in Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 99 shares of the industrial products company’s stock, valued at approximately $36,000.

Several other hedge funds have also recently added to or reduced their stakes in CAT. Thompson Investment Management Inc. bought a new position in Caterpillar during the 1st quarter worth approximately $27,000. Fairman Group LLC bought a new position in shares of Caterpillar during the first quarter worth $29,000. Bbjs Financial Advisors LLC acquired a new position in shares of Caterpillar in the 2nd quarter valued at $28,000. Financial Connections Group Inc. acquired a new stake in Caterpillar during the 2nd quarter worth $28,000. Finally, Richardson Financial Services Inc. bought a new position in Caterpillar during the fourth quarter worth about $27,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Down 1.2 %

Shares of Caterpillar stock opened at $368.82 on Monday. The stock has a market cap of $180.37 billion, a P/E ratio of 16.65, a P/E/G ratio of 1.56 and a beta of 1.10. 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 Inc. has a 12-month low of $223.76 and a 12-month high of $382.01. The business’s 50 day moving average is $343.68 and its 200-day moving average is $344.90.

Caterpillar (NYSE:CAT) last posted 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 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 in the prior year, the firm posted $5.55 earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities research analysts predict that Caterpillar Inc. will post 21.88 earnings per share for the current fiscal year.

Caterpillar declared that its board has authorized a stock 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 repurchase 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.

Analyst Upgrades and Downgrades

CAT has been the subject of several recent analyst reports. Truist Financial restated a “buy” rating and issued a $399.00 price target (up from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Citigroup started coverage on shares of Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price on the stock. StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Evercore ISI cut their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Finally, Barclays lifted their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $336.31.

Insider Activity at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total transaction of $527,800.00. Following the transaction, the insider now owns 18,515 shares of the company’s stock, valued at $6,480,250. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction 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 transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the completion of the transaction, the insider now directly owns 18,515 shares in the company, valued at $6,480,250. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,668 shares of company stock worth $2,665,760. Insiders own 0.33% of the company’s stock.

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.