Capital Wealth Planning LLC Has $460.16 Million Stake in Caterpillar Inc. (NYSE:CAT)

Capital Wealth Planning LLC grew its position in Caterpillar Inc. (NYSE:CAT) by 6.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,381,453 shares of the industrial products company’s stock after acquiring an additional 83,571 shares during the quarter. Caterpillar accounts for about 4.9% of Capital Wealth Planning LLC’s holdings, making the stock its 10th largest position. Capital Wealth Planning LLC’s holdings in Caterpillar were worth $460,162,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Richardson Financial Services Inc. bought a new stake in shares of Caterpillar in the 4th quarter worth approximately $27,000. Thompson Investment Management Inc. bought a new position in shares of Caterpillar during the 1st quarter worth approximately $27,000. Bbjs Financial Advisors LLC bought a new position in shares of Caterpillar during the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. bought a new position in shares of Caterpillar during the 2nd quarter worth approximately $28,000. Finally, Fairman Group LLC bought a new position in shares of Caterpillar during the 1st quarter worth approximately $29,000. Institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was 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 owns 33,442 shares in the company, valued at $11,750,181.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value 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 $6,480,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction dated 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 directly owns 33,442 shares of the company’s stock, valued at $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 worth $2,665,760. 0.33% of the stock is owned by insiders.

Caterpillar Trading Up 1.7 %

CAT stock opened at $345.31 on Monday. The company has a market cap of $167.44 billion, a P/E ratio of 15.59, a PEG ratio of 1.56 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The business has a fifty day moving average of $340.70 and a 200-day moving average of $344.05.

Caterpillar (NYSE:CAT) last released 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 company 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 quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.55 earnings per share. As a group, equities research analysts expect that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar declared that its board has initiated a share repurchase plan 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 plans are usually an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CAT. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday. Raymond James began coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating for the company. UBS Group raised their target price on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Citigroup started coverage on Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price for the company. Finally, Barclays raised their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Two equities 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 stock. According to MarketBeat.com, Caterpillar presently has an average rating of “Hold” and a consensus 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.