Caterpillar Inc. (NYSE:CAT) Position Reduced by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. decreased its position in Caterpillar Inc. (NYSE:CAT) by 7.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 40,392 shares of the industrial products company’s stock after selling 3,034 shares during the period. Dana Investment Advisors Inc.’s holdings in Caterpillar were worth $13,455,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CAT. Richardson Financial Services Inc. acquired a new stake in Caterpillar during the 4th quarter worth about $27,000. Thompson Investment Management Inc. acquired a new stake in shares of Caterpillar during the first quarter worth approximately $27,000. Bbjs Financial Advisors LLC purchased a new position in Caterpillar during the second quarter valued at approximately $28,000. Financial Connections Group Inc. acquired a new position in Caterpillar in the 2nd quarter valued at approximately $28,000. Finally, Fairman Group LLC purchased a new stake in Caterpillar in the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 0.0 %

Shares of Caterpillar stock opened at $390.91 on Tuesday. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $397.22. The company’s fifty day simple moving average is $347.54 and its 200-day simple moving average is $346.82. The company has a market cap of $191.18 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 1.73 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39.

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

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. UBS Group boosted their target price on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Citigroup initiated coverage on Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective on the stock. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Barclays increased their price target on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Finally, Truist Financial restated a “buy” rating and set a $399.00 price target (up previously from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $339.94.

Insider Activity at Caterpillar

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 stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now owns 18,515 shares in the company, valued at approximately $6,480,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the transaction, the insider now directly owns 18,515 shares of the company’s stock, valued at $6,480,250. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the business’s 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 sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The disclosure for this sale can be found here. Insiders have sold 7,668 shares of company stock worth $2,665,760 over the last three months. Company insiders own 0.33% of the company’s stock.

About Caterpillar

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.