HBW Advisory Services LLC Has $277,000 Stock Holdings in Caterpillar Inc. (NYSE:CAT)

HBW Advisory Services LLC raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 14.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 709 shares of the industrial products company’s stock after purchasing an additional 88 shares during the quarter. HBW Advisory Services LLC’s holdings in Caterpillar were worth $277,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CAT. Richardson Financial Services Inc. bought a new stake in Caterpillar in the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. bought a new stake in shares of Caterpillar in the 1st quarter valued at $27,000. Bbjs Financial Advisors LLC acquired a new stake in Caterpillar during the 2nd quarter worth $28,000. Financial Connections Group Inc. bought a new position in Caterpillar during the second quarter worth about $28,000. Finally, Fairman Group LLC bought a new stake in shares of Caterpillar in the first quarter worth about $29,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Caterpillar

In other news, insider Anthony D. Fassino sold 3,185 shares of the company’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 completion of the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, 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 ownership of the stock. 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 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $397.09 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $194.20 billion, a PE ratio of 17.93, a PEG ratio of 1.73 and a beta of 1.10. The firm has a 50 day moving average of $351.52 and a 200-day moving average of $348.05. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $397.46.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $5.55 EPS. On average, equities research analysts predict that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar announced that its board has authorized a stock repurchase plan 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 plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

CAT has been the topic of several research analyst reports. Truist Financial restated 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. Citigroup started coverage on shares of Caterpillar in a research report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective on the stock. UBS Group increased their price objective on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Raymond James started coverage on shares of Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $339.94.

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.