Park Avenue Securities LLC Grows Position in Caterpillar Inc. (NYSE:CAT)

Park Avenue Securities LLC raised its position in Caterpillar Inc. (NYSE:CAT) by 5.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,762 shares of the industrial products company’s stock after purchasing an additional 995 shares during the quarter. Park Avenue Securities LLC’s holdings in Caterpillar were worth $8,121,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CAT. Richardson Financial Services Inc. purchased a new position in shares of Caterpillar in the 4th quarter worth about $27,000. Thompson Investment Management Inc. purchased a new position in shares of Caterpillar in the 1st quarter worth about $27,000. Bbjs Financial Advisors LLC purchased a new position in shares of Caterpillar in the 2nd quarter worth about $28,000. Financial Connections Group Inc. purchased a new position in shares of Caterpillar in the 2nd quarter worth about $28,000. Finally, Fairman Group LLC purchased a new position in shares of Caterpillar in the 1st quarter worth about $29,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the transaction, the insider now owns 18,515 shares of the company’s stock, valued at $6,480,250. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,668 shares of company stock worth $2,665,760. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CAT shares. Bank of America raised their target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Truist Financial reiterated a “buy” rating and set a $399.00 target price (up from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. UBS Group raised their target price on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Raymond James started coverage on Caterpillar in a report on Friday, June 28th. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $339.94.

Caterpillar Stock Performance

Shares of CAT traded up $6.00 during mid-day trading on Friday, hitting $397.09. The stock had a trading volume of 1,675,430 shares, compared to its average volume of 2,668,227. The company has a market cap of $194.20 billion, a PE ratio of 17.93, a PEG ratio of 1.73 and a beta of 1.10. The company’s fifty day simple moving average is $351.52 and its two-hundred day simple moving average is $348.09. 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 fifty-two week low of $223.76 and a fifty-two week high of $397.46.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $5.55 EPS. On average, equities analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar declared that its board has initiated a share buyback plan on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the industrial products company to reacquire up to 12.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors 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.