Versant Capital Management Inc Acquires 156 Shares of Caterpillar Inc. (NYSE:CAT)

Versant Capital Management Inc lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 23.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 825 shares of the industrial products company’s stock after purchasing an additional 156 shares during the quarter. Versant Capital Management Inc’s holdings in Caterpillar were worth $323,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CAT. Vanguard Group Inc. raised its stake in Caterpillar by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock valued at $14,296,641,000 after purchasing an additional 129,216 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Caterpillar by 2.2% during the 4th 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 during the period. Legal & General Group Plc boosted its position in shares of Caterpillar by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after acquiring an additional 75,973 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Caterpillar by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after acquiring an additional 165,358 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Caterpillar by 10.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock worth $702,431,000 after buying an additional 198,123 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 0.3 %

Shares of Caterpillar stock opened at $398.12 on Tuesday. The stock’s 50-day moving average is $351.52 and its 200 day moving average is $347.99. Caterpillar Inc. has a one year low of $223.76 and a one year high of $401.17. The firm has a market cap of $194.70 billion, a price-to-earnings ratio of 17.97, a PEG 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.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. During the same period in the prior year, the business earned $5.55 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current year.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Citigroup began coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target on the stock. Raymond James initiated coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating on the stock. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. UBS Group boosted their price objective on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Finally, Truist Financial reiterated a “buy” rating and issued a $399.00 target price (up from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $339.94.

Insider Transactions at Caterpillar

In related news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction 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 transaction, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Caterpillar news, Director Gerald Johnson bought 100 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, 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 dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,668 shares of company stock valued at $2,665,760 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

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.