Ted Buchan & Co Purchases Shares of 2,512 Caterpillar Inc. (NYSE:CAT)

Ted Buchan & Co purchased a new stake in Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,512 shares of the industrial products company’s stock, valued at approximately $837,000.

Other large investors have also recently bought and sold shares of the company. Thompson Investment Management Inc. bought a new position in Caterpillar in the 1st quarter valued at about $27,000. Fairman Group LLC bought a new position in Caterpillar in the 1st quarter valued at about $29,000. Bbjs Financial Advisors LLC bought a new position in Caterpillar in the 2nd quarter valued at about $28,000. Financial Connections Group Inc. bought a new position in Caterpillar in the 2nd quarter valued at about $28,000. Finally, Richardson Financial Services Inc. bought a new position in shares of Caterpillar during the fourth quarter worth approximately $27,000. 70.98% of the stock is owned by institutional investors.

Caterpillar Price Performance

Shares of NYSE CAT opened at $390.91 on Tuesday. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $397.22. The firm has a fifty day simple moving average of $347.54 and a 200 day simple moving average of $346.82. The company has a market capitalization of $191.18 billion, a PE ratio of 17.65, a P/E/G ratio of 1.73 and a beta of 1.10. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. 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 earned $5.55 earnings per share. Caterpillar’s quarterly revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts forecast that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar announced that its board has approved a stock repurchase program on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CAT. Raymond James began coverage on shares of Caterpillar in a report on Friday, June 28th. They set a “market perform” rating on the stock. Barclays raised their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Bank of America raised their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday. Truist Financial reaffirmed a “buy” rating and set a $399.00 target price (up from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Finally, Citigroup started coverage on shares of Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $339.94.

Insider Buying and Selling at Caterpillar

In related news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar 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 of the company’s stock, valued at $5,347,825.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,668 shares of company stock valued at $2,665,760. Corporate insiders own 0.33% of the company’s stock.

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.