PFG Advisors Has $3.54 Million Holdings in Caterpillar Inc. (NYSE:CAT)

PFG Advisors increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,623 shares of the industrial products company’s stock after purchasing an additional 199 shares during the quarter. PFG Advisors’ holdings in Caterpillar were worth $3,538,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CAT. Southland Equity Partners LLC raised its holdings in shares of Caterpillar by 4.0% during the 1st quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after buying an additional 30 shares in the last quarter. Davis Investment Partners LLC increased its position in shares of Caterpillar by 2.1% during the first quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock worth $541,000 after buying an additional 30 shares during the period. Private Trust Co. NA raised its position in shares of Caterpillar by 0.3% in the 1st quarter. Private Trust Co. NA now owns 10,695 shares of the industrial products company’s stock worth $3,919,000 after acquiring an additional 30 shares in the last quarter. Hilltop National Bank lifted its stake in Caterpillar by 1.2% in the second quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock valued at $878,000 after buying an additional 31 shares during the period. Finally, Exchange Capital Management Inc. boosted its holdings in shares of Caterpillar by 3.3% during the 1st quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company’s stock worth $372,000 after buying an additional 32 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $335.00 on Thursday. The business has a fifty day simple moving average of $340.18 and a two-hundred day simple moving average of $343.72. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The company has a market capitalization of $163.83 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.54 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 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 during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $5.55 earnings per share. On average, analysts expect that Caterpillar Inc. will post 21.87 earnings per share for the current year.

Caterpillar announced that its Board of Directors has authorized a share repurchase 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 repurchase up to 12.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

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 purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. The disclosure for this purchase can be found here. Insiders have sold a total of 7,668 shares of company stock worth $2,665,760 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Truist Financial reaffirmed a “buy” rating and issued a $399.00 price target (up from $390.00) on shares of Caterpillar in a research note 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 research note on Monday, August 19th. Raymond James initiated coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Bank of America reduced their price objective on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $336.31.

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.