Angeles Wealth Management LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT)

Angeles Wealth Management LLC increased its holdings in Caterpillar Inc. (NYSE:CAT – Free Report) by 9.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 916 shares of the industrial products company’s stock after buying an additional 79 shares during the period. Angeles Wealth Management LLC’s holdings in Caterpillar were worth $305,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CAT. Richardson Financial Services Inc. purchased a new position in Caterpillar in the 4th quarter valued at approximately $27,000. Thompson Investment Management Inc. purchased a new position in Caterpillar in the first quarter valued at approximately $27,000. Bbjs Financial Advisors LLC purchased a new position in Caterpillar in the second quarter valued at approximately $28,000. Financial Connections Group Inc. acquired a new position in Caterpillar in the second quarter valued at approximately $28,000. Finally, Fairman Group LLC purchased a new position in Caterpillar in the first quarter valued at approximately $29,000. 70.98% of the shares are currently held by hedge funds and other institutional investors.

Analyst upgrades and downgrades

A number of research analysts have issued reports on the stock. UBS Group upped their target price on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Truist Financial restated a “buy” rating and issued a $399.00 target price (up from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. 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 report on Monday, August 19th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. Finally, Raymond James initiated coverage on shares of Caterpillar in a report on Friday, June 28th. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $336.31, based on data from MarketBeat.com.

Read our latest report on Caterpillar

Caterpillar stocks rose 0.3%

CAT opened at $335.00 on Thursday. 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 1 year low of $223.76 and a 1 year high of $382.01. The firm has a 50-day moving average price of $340.18 and a 200-day moving average price of $343.72. The company has a market cap of $163.83 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.54 and a beta of 1.10.

Caterpillar (NYSE:CAT – Get Your Free Report ) last released its quarterly earnings data 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. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. In the same quarter last year, the company earned $5.55 per share. Caterpillar’s revenue for the quarter was down 3.6% year over year. Sell-side analysts expect that Caterpillar Inc. to post 21.87 earnings per share for the current year.

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

Insider Buying and Selling at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. In other news, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. Also, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the transaction, the insider now owns 18,515 shares of the company’s stock, valued at $6,480,250. The disclosure for this sale can be found here. Insiders have sold 7,668 shares of company stock worth $2,665,760 over the last 90 days. 0.33% of shares are held by corporate insiders.

Caterpillar Company Profile

(Free Report)

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives worldwide. The Construction Industries segment offers asphalt pavers, compactors, road reclamation machines, forestry machines, cold planers, material handlers, crawler tractors, excavators, telehandlers, graders and pipelayers; compact track loaders, wheel loaders, track loaders, backhoes and skid steer loaders; and related parts and tools.

Featured stories

Want to see what other hedge funds own CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Caterpillar Inc. (NYSE:CAT – Free Report).

Get news and reviews 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.