Caterpillar Inc. (NYSE:CAT) Shares Purchased by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC raised its holdings in Caterpillar Inc. (NYSE:CAT) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,491 shares of the industrial products company’s stock after acquiring an additional 59 shares during the period. Miracle Mile Advisors LLC’s holdings in Caterpillar were worth $1,757,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Waterloo Capital L.P. acquired a new stake in Caterpillar during the fourth quarter worth about $355,000. Personal CFO Solutions LLC raised its holdings in Caterpillar by 13.1% in the fourth quarter. Personal CFO Solutions LLC now owns 1,419 shares of the industrial products company’s stock valued at $420,000 after buying an additional 164 shares during the period. XML Financial LLC lifted its position in Caterpillar by 0.8% during the fourth quarter. XML Financial LLC now owns 6,858 shares of the industrial products company’s stock valued at $2,028,000 after buying an additional 53 shares in the last quarter. Regal Investment Advisors LLC grew its stake in Caterpillar by 4.9% during the fourth quarter. Regal Investment Advisors LLC now owns 3,824 shares of the industrial products company’s stock worth $1,131,000 after buying an additional 179 shares during the period. Finally, Visionary Wealth Advisors raised its stake in shares of Caterpillar by 3.2% in the 4th quarter. Visionary Wealth Advisors now owns 3,295 shares of the industrial products company’s stock valued at $974,000 after acquiring an additional 101 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT opened at $398.12 on Tuesday. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $401.17. The firm has a market capitalization of $194.70 billion, a PE ratio of 17.97, a P/E/G ratio of 1.73 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 business’s fifty day moving average price is $351.52 and its two-hundred day moving average price is $347.99.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $16.91 billion. During the same period in the previous year, the business posted $5.55 EPS. Caterpillar’s revenue was down 3.6% on a year-over-year basis. On average, research analysts expect that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar announced that its board has approved a share buyback program on Wednesday, June 12th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CAT. 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. Barclays boosted their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Raymond James began coverage on shares of Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Evercore ISI reduced their target price 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, UBS Group raised their price target on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $339.94.

Insider Activity at Caterpillar

In other Caterpillar news, Director Gerald Johnson purchased 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, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. 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. 0.33% of the stock is owned by company insiders.

About Caterpillar

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.