Caterpillar Inc. (NYSE:CAT) Shares Bought by Heartwood Wealth Advisors LLC

Heartwood Wealth Advisors LLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,904 shares of the industrial products company’s stock after buying an additional 150 shares during the quarter. Heartwood Wealth Advisors LLC’s holdings in Caterpillar were worth $1,136,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Foster Group Inc. lifted its position in shares of Caterpillar by 8.1% in the third quarter. Foster Group Inc. now owns 1,064 shares of the industrial products company’s stock valued at $416,000 after acquiring an additional 80 shares in the last quarter. Fulton Bank N.A. increased its position in shares of Caterpillar by 3.0% during the third quarter. Fulton Bank N.A. now owns 1,761 shares of the industrial products company’s stock worth $689,000 after purchasing an additional 51 shares in the last quarter. Prentice Wealth Management LLC purchased a new position in Caterpillar in the 3rd quarter valued at $427,000. Miracle Mile Advisors LLC boosted its stake in Caterpillar by 1.3% during the 3rd quarter. Miracle Mile Advisors LLC now owns 4,491 shares of the industrial products company’s stock worth $1,757,000 after purchasing an additional 59 shares during the last quarter. Finally, Consilio Wealth Advisors LLC purchased a new stake in shares of Caterpillar during the third quarter worth $212,000. 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 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 transaction of $527,800.00. Following the completion of the transaction, the insider now owns 18,515 shares in the company, valued at $6,480,250. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total transaction of $527,800.00. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 7,668 shares of company stock valued at $2,665,760 over the last 90 days. 0.33% of the stock is owned by corporate insiders.

Caterpillar Price Performance

Caterpillar stock opened at $398.12 on Tuesday. 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 52-week low of $223.76 and a 52-week high of $401.17. The firm has a market cap of $194.70 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. The company’s 50 day moving average is $351.52 and its two-hundred day moving average is $347.99.

Caterpillar (NYSE:CAT) last released 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 firm 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%. Caterpillar’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $5.55 EPS. On average, research analysts expect that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar declared that its board has approved 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 purchase up to 12.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CAT. Evercore ISI decreased their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Bank of America boosted their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a report 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 note on Wednesday, August 7th. Finally, Truist Financial restated a “buy” rating and issued a $399.00 target price (up from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $339.94.

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.