Trifecta Capital Advisors LLC Grows Holdings in Caterpillar Inc. (NYSE:CAT)

Trifecta Capital Advisors LLC boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 7.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 20,334 shares of the industrial products company’s stock after purchasing an additional 1,348 shares during the period. Caterpillar makes up 1.5% of Trifecta Capital Advisors LLC’s investment portfolio, making the stock its 15th largest holding. Trifecta Capital Advisors LLC’s holdings in Caterpillar were worth $6,773,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CAT. Thompson Investment Management Inc. purchased a new position in shares of Caterpillar during the first quarter worth about $27,000. Fairman Group LLC purchased a new position in shares of Caterpillar in the 1st quarter valued at approximately $29,000. Bbjs Financial Advisors LLC acquired a new position in shares of Caterpillar in the second quarter valued at approximately $28,000. Financial Connections Group Inc. purchased a new stake in shares of Caterpillar during the second quarter worth approximately $28,000. Finally, Partnership Wealth Management LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth $26,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,668 shares of company stock valued at $2,665,760. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 0.0 %

Shares of NYSE:CAT opened at $334.14 on Wednesday. The company has a market capitalization of $162.02 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.54 and a beta of 1.10. The stock’s fifty day simple moving average is $340.09 and its 200-day simple moving average is $343.78. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $382.01. 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 released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $0.46. The company 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 period last year, the company earned $5.55 EPS. As a group, equities research analysts forecast that Caterpillar Inc. will post 21.87 earnings per share for the current fiscal year.

Caterpillar announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 12th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CAT. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Truist Financial restated a “buy” rating and issued a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. UBS Group lifted their price objective on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Citigroup started coverage on Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target for the company. Finally, Barclays upped their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Two investment 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.com, the company currently has an average rating of “Hold” and an average target price of $336.31.

Caterpillar Company 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.