Fulton Bank N.A. Buys 51 Shares of Caterpillar Inc. (NYSE:CAT)

Fulton Bank N.A. lifted its position in Caterpillar Inc. (NYSE:CAT) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,761 shares of the industrial products company’s stock after acquiring an additional 51 shares during the quarter. Fulton Bank N.A.’s holdings in Caterpillar were worth $689,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Caterpillar by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock worth $14,296,641,000 after buying an additional 129,216 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Caterpillar by 2.2% during the fourth quarter. Fisher Asset Management LLC now owns 8,139,040 shares of the industrial products company’s stock valued at $2,406,471,000 after acquiring an additional 173,108 shares during the last quarter. Legal & General Group Plc lifted its holdings in Caterpillar by 2.0% during the second 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 during the period. Dimensional Fund Advisors LP boosted its position 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 worth $1,022,488,000 after purchasing an additional 165,358 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Caterpillar by 10.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after purchasing an additional 198,123 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In related news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired 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 directly 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 available through this hyperlink. Also, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the sale, the insider now directly owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,668 shares of company stock valued at $2,665,760 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Truist Financial reissued a “buy” rating and set a $399.00 target price (up from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. UBS Group lifted their price target on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Evercore ISI reduced their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Finally, Raymond James assumed coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $339.94.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $387.90 on Wednesday. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $401.17. 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 cap of $189.70 billion, a P/E ratio of 17.57, a P/E/G ratio of 1.73 and a beta of 1.10. The company has a 50 day moving average of $352.59 and a 200 day moving average of $348.22.

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

Caterpillar announced that its Board of Directors has authorized a share buyback program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Caterpillar 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.