Alpha Cubed Investments LLC Purchases 6,212 Shares of Caterpillar Inc. (NYSE:CAT)

Alpha Cubed Investments LLC lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 5.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 116,566 shares of the industrial products company’s stock after purchasing an additional 6,212 shares during the period. Caterpillar comprises 2.0% of Alpha Cubed Investments LLC’s investment portfolio, making the stock its 18th largest holding. Alpha Cubed Investments LLC’s holdings in Caterpillar were worth $45,591,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board increased its holdings 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 valued at $149,385,000 after purchasing an additional 307,479 shares during the period. Altshuler Shaham Ltd grew its position in shares of Caterpillar by 3,319.7% in the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after buying an additional 266,969 shares during the last quarter. Swedbank AB acquired a new stake in shares of Caterpillar in the first quarter valued at about $97,042,000. Capital International Investors lifted its stake in shares of Caterpillar by 99.9% in the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock worth $179,060,000 after acquiring an additional 244,253 shares during the period. Finally, National Bank of Canada FI boosted its holdings in Caterpillar by 104.6% in the second quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock valued at $128,768,000 after acquiring an additional 200,134 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Up 0.3 %

Caterpillar stock opened at $398.12 on Tuesday. The firm has a market capitalization of $194.70 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. The firm’s fifty day moving average price is $351.52 and its two-hundred day moving average price is $347.99. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $401.17. 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 announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.46. The business had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $5.55 EPS. On average, equities research analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar declared that its Board of Directors has approved a share repurchase plan 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 reacquire up to 12.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

CAT has been the topic of a number of recent analyst reports. Truist Financial restated a “buy” rating and issued a $399.00 price target (up previously from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Citigroup initiated coverage on shares of Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price on the stock. Raymond James started coverage on Caterpillar in a report on Friday, June 28th. They set a “market perform” rating for the company. Barclays upped their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Bank of America lifted their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $339.94.

Insider Activity at Caterpillar

In related news, Director Gerald Johnson purchased 100 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $962,272.78. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Anthony D. Fassino sold 3,185 shares of the business’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 transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 7,668 shares of company stock valued at $2,665,760 over the last 90 days. 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.