Harbor Investment Advisory LLC Decreases Position in Caterpillar Inc. (NYSE:CAT)

Harbor Investment Advisory LLC cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,607 shares of the industrial products company’s stock after selling 40 shares during the period. Harbor Investment Advisory LLC’s holdings in Caterpillar were worth $1,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Great Waters Wealth Management purchased a new stake in shares of Caterpillar in the third quarter worth approximately $236,000. Regency Capital Management Inc. DE raised its holdings in shares of Caterpillar by 1.4% in the third quarter. Regency Capital Management Inc. DE now owns 11,152 shares of the industrial products company’s stock worth $4,362,000 after buying an additional 156 shares during the period. HBW Advisory Services LLC raised its holdings in shares of Caterpillar by 14.2% in the third quarter. HBW Advisory Services LLC now owns 709 shares of the industrial products company’s stock worth $277,000 after buying an additional 88 shares during the period. MRA Advisory Group raised its holdings in shares of Caterpillar by 2.7% in the third quarter. MRA Advisory Group now owns 1,503 shares of the industrial products company’s stock worth $588,000 after buying an additional 39 shares during the period. Finally, Park Avenue Securities LLC raised its holdings in shares of Caterpillar by 5.0% in the third quarter. Park Avenue Securities LLC now owns 20,762 shares of the industrial products company’s stock worth $8,121,000 after buying an additional 995 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Truist Financial reiterated 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. Bank of America increased their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. UBS Group increased their price objective on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Finally, Barclays increased their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $339.94.

Caterpillar Stock Up 1.5 %

Shares of NYSE CAT opened at $397.09 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $194.20 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. The stock’s fifty day simple moving average is $351.52 and its two-hundred day simple moving average is $348.05. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $397.46.

Caterpillar (NYSE:CAT) last announced its earnings results 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. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. During the same quarter last year, the firm earned $5.55 EPS. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, analysts expect that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar declared that its Board of Directors has initiated a share buyback program on Wednesday, June 12th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the industrial products company to reacquire up to 12.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction 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 sale, the insider now owns 18,515 shares of the company’s stock, valued at approximately $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. 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.