PFG Investments LLC Purchases 107 Shares of Caterpillar Inc. $CAT

PFG Investments LLC raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,229 shares of the industrial products company’s stock after acquiring an additional 107 shares during the quarter. PFG Investments LLC’s holdings in Caterpillar were worth $2,418,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacific Point Advisors LLC acquired a new stake in shares of Caterpillar in the 4th quarter worth $579,000. Brighton Jones LLC boosted its position in shares of Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after purchasing an additional 2,519 shares in the last quarter. Merit Financial Group LLC boosted its position in shares of Caterpillar by 5.9% in the 1st quarter. Merit Financial Group LLC now owns 21,373 shares of the industrial products company’s stock worth $7,049,000 after purchasing an additional 1,195 shares in the last quarter. HBW Advisory Services LLC boosted its position in shares of Caterpillar by 11.9% in the 1st quarter. HBW Advisory Services LLC now owns 801 shares of the industrial products company’s stock worth $264,000 after purchasing an additional 85 shares in the last quarter. Finally, Fulton Bank N.A. boosted its position in shares of Caterpillar by 3.3% in the 1st quarter. Fulton Bank N.A. now owns 3,525 shares of the industrial products company’s stock worth $1,163,000 after purchasing an additional 111 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Oppenheimer raised their target price on Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a research note on Monday. Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a research note on Monday, July 14th. Jefferies Financial Group restated a “buy” rating and issued a $500.00 target price on shares of Caterpillar in a research note on Friday, August 29th. Truist Financial raised their target price on Caterpillar from $414.00 to $507.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Finally, Barclays raised their target price on Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus price target of $466.53.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $480.99 on Thursday. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $485.34. The business has a 50-day moving average price of $434.48 and a 200 day moving average price of $376.35. The firm has a market cap of $225.33 billion, a PE ratio of 24.47, a P/E/G ratio of 2.90 and a beta of 1.46.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the previous year, the firm posted $5.99 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. Sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the sale, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,819 shares of company stock worth $16,885,492 in the last ninety 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.