ICA Group Wealth Management LLC Has $364,000 Stock Holdings in Caterpillar Inc. (NYSE:CAT)

ICA Group Wealth Management LLC trimmed its position in Caterpillar Inc. (NYSE:CAT) by 64.5% in the second quarter, Holdings Channel.com reports. The firm owned 1,093 shares of the industrial products company’s stock after selling 1,982 shares during the period. ICA Group Wealth Management LLC’s holdings in Caterpillar were worth $364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CAT. Vanguard Group Inc. raised its stake in shares of Caterpillar by 0.3% during the fourth 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 during the last quarter. Capital World Investors raised its position in shares of Caterpillar by 0.3% during the 4th quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock valued at $8,583,372,000 after acquiring an additional 96,479 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Caterpillar by 2.2% in the 4th 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 purchasing an additional 173,108 shares during the period. Norges Bank bought a new position in shares of Caterpillar in the 4th quarter worth $1,660,560,000. Finally, Capital Research Global Investors increased its holdings in Caterpillar by 6.3% in the first quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock valued at $740,225,000 after purchasing an additional 119,326 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Up 1.7 %

Shares of CAT stock opened at $345.31 on Friday. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $382.01. The stock has a market cap of $167.44 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 1.56 and a beta of 1.10. The firm’s 50-day moving average is $340.70 and its 200-day moving average is $343.95. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter last year, the firm posted $5.55 EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. Sell-side analysts predict that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar announced that its board has authorized a share repurchase plan 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 plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CAT shares. Bank of America decreased their target price on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday. Truist Financial restated a “buy” rating and issued a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Barclays lifted their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Finally, Citigroup assumed coverage on Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $336.31.

Insider Buying and Selling

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the firm’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 sale, the insider now directly owns 18,515 shares in the company, valued at $6,480,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction on 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 completion of the sale, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 7,668 shares of company stock valued at $2,665,760. Company insiders own 0.33% of the company’s stock.

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.