Sargent Investment Group LLC Buys 635 Shares of Caterpillar Inc. (NYSE:CAT)

Sargent Investment Group LLC raised its stake in Caterpillar Inc. (NYSE:CAT) by 13.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,329 shares of the industrial products company’s stock after purchasing an additional 635 shares during the quarter. Sargent Investment Group LLC’s holdings in Caterpillar were worth $1,775,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its holdings in Caterpillar by 306.9% during the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after buying an additional 307,479 shares during the last quarter. Swedbank AB acquired a new position in shares of Caterpillar during the 1st quarter worth about $97,042,000. Capital International Investors raised its holdings in shares of Caterpillar by 99.9% in the 1st quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock valued at $179,060,000 after purchasing an additional 244,253 shares during the period. National Bank of Canada FI grew its holdings in Caterpillar by 104.6% during the second quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock worth $128,768,000 after purchasing an additional 200,134 shares during the period. Finally, Strategic Financial Concepts LLC increased its position in Caterpillar by 28,321.2% during the second quarter. Strategic Financial Concepts LLC now owns 200,654 shares of the industrial products company’s stock worth $668,000 after buying an additional 199,948 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In related news, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, 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 Securities & Exchange Commission, which is available at the SEC website. In related news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the transaction, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction on 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 approximately $962,272.78. The disclosure for this purchase can be found here. In the last three months, insiders have sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on CAT shares. Truist Financial reiterated a “buy” rating and set a $399.00 target price (up from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. Raymond James began coverage on shares of Caterpillar in a report on Friday, June 28th. They set a “market perform” rating for the company. Bank of America lowered their price target on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Friday. Finally, Evercore ISI dropped their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Caterpillar has an average rating of “Hold” and a consensus price target of $336.31.

Caterpillar Stock Performance

NYSE:CAT opened at $347.96 on Tuesday. The stock’s 50-day moving average is $341.08 and its 200-day moving average is $344.15. The stock has a market cap of $170.17 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01. 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 (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.46. The firm had revenue of $16.69 billion during 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 company’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $5.55 EPS. Equities research analysts anticipate that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar announced that its Board of Directors has approved a stock repurchase plan on Wednesday, June 12th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 12.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.