Caterpillar Inc. (NYSE:CAT) Shares Acquired by Capital Wealth Planning LLC

Capital Wealth Planning LLC increased its position in Caterpillar Inc. (NYSE:CAT) by 6.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,381,453 shares of the industrial products company’s stock after buying an additional 83,571 shares during the quarter. Caterpillar comprises approximately 4.9% of Capital Wealth Planning LLC’s holdings, making the stock its 10th largest position. Capital Wealth Planning LLC owned approximately 0.28% of Caterpillar worth $460,162,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CAT. Vanguard Group Inc. lifted its holdings 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 valued at $14,296,641,000 after purchasing an additional 129,216 shares during the last quarter. Capital World Investors lifted its holdings in shares of Caterpillar by 0.3% during the fourth quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock valued at $8,583,372,000 after purchasing an additional 96,479 shares during the last quarter. Fisher Asset Management LLC lifted its holdings 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 purchasing an additional 173,108 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Caterpillar by 6.3% during 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. Finally, Diamond Hill Capital Management Inc. lifted its holdings in shares of Caterpillar by 1.0% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,318,999 shares of the industrial products company’s stock valued at $439,359,000 after purchasing an additional 12,979 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on CAT shares. Raymond James started coverage on Caterpillar in a report on Friday, June 28th. They set a “market perform” rating for the company. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday. Citigroup started coverage on Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective for the company. UBS Group increased 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, 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Caterpillar has a consensus rating of “Hold” and an average price target of $336.31.

Caterpillar Stock Performance

Shares of CAT stock opened at $345.31 on Monday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The firm has a market cap of $167.44 billion, a P/E ratio of 15.59, a PEG ratio of 1.56 and a beta of 1.10. The stock’s 50-day moving average is $340.70 and its two-hundred day moving average is $344.05. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $382.01.

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

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

Insider Activity

In related news, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated 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 acquisition, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gerald Johnson bought 100 shares of the stock in a transaction on Wednesday, September 4th. The stock was acquired 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 $962,272.78. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 7,668 shares of company stock valued at $2,665,760. 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.