Financial & Tax Architects LLC Acquires 229 Shares of Caterpillar Inc. (NYSE:CAT)

Financial & Tax Architects LLC raised its holdings in Caterpillar Inc. (NYSE:CAT) by 1.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 18,074 shares of the industrial products company’s stock after purchasing an additional 229 shares during the quarter. Caterpillar accounts for about 1.6% of Financial & Tax Architects LLC’s holdings, making the stock its 20th biggest position. Financial & Tax Architects LLC’s holdings in Caterpillar were worth $6,020,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Richardson Financial Services Inc. bought a new position in shares of Caterpillar during the fourth quarter worth approximately $27,000. Thompson Investment Management Inc. bought a new position in shares of Caterpillar during the first quarter worth approximately $27,000. Bbjs Financial Advisors LLC bought a new position in shares of Caterpillar during the second quarter worth approximately $28,000. Financial Connections Group Inc. bought a new position in shares of Caterpillar during the second quarter worth approximately $28,000. Finally, Fairman Group LLC bought a new position in shares of Caterpillar during the first quarter worth approximately $29,000. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In related news, Director Gerald Johnson bought 100 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total transaction of $527,800.00. Following the completion of the transaction, the insider now directly owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gerald Johnson bought 100 shares of the 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 transaction, the director now owns 2,842 shares in the company, valued at $962,272.78. The disclosure for this purchase can be found here. Insiders sold a total of 7,668 shares of company stock valued at $2,665,760 in the last three months. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 1.7 %

Shares of CAT opened at $353.81 on Wednesday. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01. The stock has a market capitalization of $173.03 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.56 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. The stock has a fifty day moving average of $341.63 and a 200-day moving average of $344.27.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. During the same period in the prior year, the company earned $5.55 EPS. Caterpillar’s revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 21.88 earnings per share for the current fiscal year.

Caterpillar declared that its board has authorized a stock buyback program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. UBS Group increased their target price on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Evercore ISI reduced their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Truist Financial reissued a “buy” rating and set a $399.00 price target (up previously from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Citigroup assumed coverage on Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. Finally, Barclays increased their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and an average target price of $336.31.

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.