Bradley Foster & Sargent Inc. CT Has $36.41 Million Stock Position in Caterpillar Inc. (NYSE:CAT)

Bradley Foster & Sargent Inc. CT reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 109,310 shares of the industrial products company’s stock after selling 2,353 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Caterpillar were worth $36,411,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Richardson Financial Services Inc. acquired a new stake in shares of Caterpillar during the 4th quarter worth $27,000. Thompson Investment Management Inc. acquired a new stake in Caterpillar in the first quarter valued at about $27,000. Bbjs Financial Advisors LLC acquired a new stake in Caterpillar in the second quarter valued at about $28,000. Financial Connections Group Inc. acquired a new stake in Caterpillar in the second quarter valued at about $28,000. Finally, Fairman Group LLC acquired a new stake in Caterpillar in the first quarter valued at about $29,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on CAT shares. Citigroup started coverage on Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective on the stock. UBS Group raised their price objective on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Evercore ISI reduced their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Truist Financial reaffirmed a “buy” rating and issued a $399.00 price objective (up from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $336.31.

Caterpillar Trading Up 1.7 %

Shares of CAT stock opened at $353.81 on Wednesday. The company has a market cap of $173.03 billion, a P/E ratio of 15.97, a PEG ratio of 1.56 and a beta of 1.10. The stock has a 50 day simple moving average of $341.63 and a two-hundred day simple moving average of $344.27. 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 $382.01.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The business had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $5.55 earnings per share. Research analysts forecast that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar announced that its Board of Directors has approved a share 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 sale, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,668 shares of company stock valued at $2,665,760. Company insiders own 0.33% of the company’s stock.

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.