2 weeks Ago By ABMN Staff
Covington Investment Advisors Inc. purchased a new position in shares of Caterpillar Inc. ( NYSE:CAT – Free Report ) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC).
The institutional investor purchased 14,335 shares of the industrial products company’s stock, valued at approximately $4,775,000. A number of other large investors also recently modified their holdings of CAT. Acadian Asset Management LLC raised its position in Caterpillar by 17.
2% in the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after purchasing an additional 1,327 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in Caterpillar during the 1st quarter worth approximately $926,000.
Natixis Advisors LLC grew its holdings in Caterpillar by 3.5% during the 2nd quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock worth $92,688,000 after acquiring an additional 9,321 shares during the last quarter.
Bailard Inc. increased its position in Caterpillar by 3.1% in the 2nd quarter.
Bailard Inc. now owns 13,435 shares of the industrial products company’s stock valued at $4,475,000 after acquiring an additional 398 shares during the period. Finally, M&G Plc bought a new position in shares of Caterpillar during the first quarter valued at $15,009,000.
70.98% of the stock is currently owned by institutional investors. Caterpillar Stock Up 0.
0 % CAT stock opened at $391.08 on Monday. The stock’s 50 day simple moving average is $346.
68 and its 200 day simple moving average is $346.44. The company has a market cap of $191.
26 billion, a P/E 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 quick ratio of 0.
78 and a current ratio of 1.28. Caterpillar Inc.
has a fifty-two week low of $223.76 and a fifty-two week high of $397.22.
Caterpillar announced that its Board of Directors has approved 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 buy up to 12.
7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued. Insider Buying and Selling at Caterpillar In related news, insider Cheryl H.
Johnson sold 2,975 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.
00. Following the sale, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20.
The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink . In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd.
The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00.
Following the completion of the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website .
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 value 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 . Over the last three months, insiders have sold 7,668 shares of company stock valued at $2,665,760.
Corporate insiders own 0.33% of the company’s stock. Analyst Upgrades and Downgrades Several brokerages recently weighed in on CAT.
Evercore ISI reduced their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th.
Raymond James initiated coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating for the company. StockNews.
com lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. UBS Group increased their target price on shares of Caterpillar from $270.00 to $285.
00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Finally, Barclays boosted their price target on shares of Caterpillar from $315.00 to $335.
00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.
com, the stock presently has an average rating of “Hold” and a consensus price target of $336.31. Get Our Latest Stock Report on Caterpillar Caterpillar Profile ( Free Report ) 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. Further Reading Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc.
( NYSE:CAT – Free Report ). Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter .
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