Magnolia Capital Advisors LLC Makes New $742,000 Investment in Caterpillar Inc. (NYSE:CAT)

Magnolia Capital Advisors LLC bought a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,228 shares of the industrial products company’s stock, valued at approximately $742,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAT. Richardson Financial Services Inc. purchased a new stake in shares of Caterpillar in the fourth quarter worth $27,000. Thompson Investment Management Inc. bought a new stake in Caterpillar during the 1st quarter valued at about $27,000. Bbjs Financial Advisors LLC purchased a new position in Caterpillar in the second quarter worth about $28,000. Financial Connections Group Inc. bought a new position in shares of Caterpillar in the second quarter worth approximately $28,000. Finally, Fairman Group LLC bought a new stake in shares of Caterpillar during the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 0.0 %

NYSE:CAT opened at $391.08 on Monday. The firm has a market capitalization of $191.26 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. 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 business has a fifty day moving average price of $346.68 and a 200-day moving average price of $346.44. Caterpillar Inc. has a one year low of $223.76 and a one year high of $397.22.

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

Caterpillar declared that its board has approved a stock repurchase program on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction 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 acquisition, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The disclosure for this sale can be found here. Insiders sold a total of 7,668 shares of company stock worth $2,665,760 over the last three months. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on CAT shares. Truist Financial reaffirmed a “buy” rating and issued a $399.00 price objective (up from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Raymond James assumed coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating on the stock. 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 report on Monday, August 19th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Bank of America decreased their price objective on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $336.31.

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.