Certified Advisory Corp Cuts Holdings in Caterpillar Inc. (NYSE:CAT)

Certified Advisory Corp reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 22.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 689 shares of the industrial products company’s stock after selling 200 shares during the quarter. Certified Advisory Corp’s holdings in Caterpillar were worth $229,000 as of its most recent SEC filing.

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

Caterpillar Trading Up 0.7 %

Shares of Caterpillar stock opened at $371.31 on Tuesday. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01. The stock has a market cap of $181.59 billion, a P/E ratio of 16.76, a P/E/G 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. The stock’s 50 day simple moving average is $344.19 and its 200-day simple moving average is $345.12.

Caterpillar (NYSE:CAT) last issued its 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. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. Caterpillar’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.55 earnings per share. Analysts predict that Caterpillar Inc. will post 21.88 EPS for the current fiscal year.

Caterpillar declared that its board has initiated a stock buyback program on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Raymond James initiated coverage on Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. UBS Group raised their target price on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Citigroup assumed coverage on Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target for the company. StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, Truist Financial restated 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 investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $336.31.

Insider Buying and Selling at Caterpillar

In related 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 sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the transaction, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction 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 sale, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The disclosure for this sale can be found here. Insiders sold a total of 7,668 shares of company stock worth $2,665,760 over the last three months. Insiders own 0.33% of the company’s stock.

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.