Trifecta Capital Advisors LLC Increases Position in Caterpillar Inc. (NYSE:CAT)

Trifecta Capital Advisors LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 7.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,334 shares of the industrial products company’s stock after purchasing an additional 1,348 shares during the period. Caterpillar accounts for about 1.5% of Trifecta Capital Advisors LLC’s portfolio, making the stock its 15th largest holding. Trifecta Capital Advisors LLC’s holdings in Caterpillar were worth $6,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in Caterpillar during the fourth quarter worth about $1,660,560,000. Capital Wealth Planning LLC raised its position in shares of Caterpillar by 27,495.2% during the 4th quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock valued at $349,616,000 after buying an additional 1,178,168 shares during the period. Canada Pension Plan Investment Board grew its position in Caterpillar by 306.9% in the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after acquiring an additional 307,479 shares during the period. Swedbank AB acquired a new stake in Caterpillar during the first quarter worth $97,042,000. Finally, Capital International Investors raised its position in Caterpillar by 99.9% in the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock valued at $179,060,000 after purchasing an additional 244,253 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAT has been the subject of a number of research analyst reports. Truist Financial reiterated a “buy” rating and set a $399.00 price target (up from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Bank of America dropped their price target on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Raymond James assumed coverage on shares of Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Barclays lifted their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company 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 for the company. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $336.31.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. The disclosure for this sale can be found here. Insiders have sold a total of 7,668 shares of company stock worth $2,665,760 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $334.14 on Wednesday. The business has a 50-day simple moving average of $340.09 and a 200-day simple moving average of $343.78. The company has a market cap of $162.02 billion, a PE ratio of 15.09, a P/E/G ratio of 1.54 and a beta of 1.10. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01. 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 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 company had revenue of $16.69 billion for 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 quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.55 EPS. On average, equities research analysts forecast that Caterpillar Inc. will post 21.87 EPS for the current fiscal year.

Caterpillar declared that its board has initiated a share repurchase program on Wednesday, June 12th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership 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.