Caterpillar Inc. (NYSE:CAT) Shares Purchased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Caterpillar Inc. (NYSE:CAT) by 56.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 95,649 shares of the industrial products company’s stock after purchasing an additional 34,663 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Caterpillar were worth $31,861,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its stake in Caterpillar by 17.2% during the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after acquiring an additional 1,327 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Caterpillar during the first quarter worth about $926,000. Natixis Advisors LLC boosted its stake in shares of Caterpillar by 3.5% in the second quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock valued at $92,688,000 after purchasing an additional 9,321 shares during the period. Bailard Inc. increased its stake in Caterpillar by 3.1% during the 2nd quarter. Bailard Inc. now owns 13,435 shares of the industrial products company’s stock worth $4,475,000 after buying an additional 398 shares during the period. Finally, Olistico Wealth LLC lifted its holdings in Caterpillar by 3.4% during the 4th quarter. Olistico Wealth LLC now owns 2,130 shares of the industrial products company’s stock worth $630,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction that occurred on 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 sale, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were 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 of the company’s stock, valued at approximately $5,347,825.20. The disclosure for this sale can be found here. Insiders have sold a total of 7,668 shares of company stock worth $2,665,760 in the last three months. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Truist Financial reaffirmed a “buy” rating and set a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Raymond James initiated coverage on Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Citigroup initiated coverage on shares of Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price on the stock. Finally, UBS Group increased their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Caterpillar currently has an average rating of “Hold” and an average price target of $336.31.

Caterpillar Stock Up 0.7 %

Shares of NYSE:CAT 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 firm has a fifty day moving average price of $344.19 and a 200 day moving average price of $345.12. 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 (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The company 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 firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $5.55 EPS. Sell-side analysts predict that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar declared that its Board of Directors has initiated a share repurchase 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 buy up to 12.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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.