Zega Financial LLC Has $1.17 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Zega Financial LLC raised its stake in Caterpillar Inc. (NYSE:CAT) by 51.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,504 shares of the industrial products company’s stock after buying an additional 1,187 shares during the period. Zega Financial LLC’s holdings in Caterpillar were worth $1,167,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Gilbert & Cook Inc. increased its holdings in Caterpillar by 3.9% in the 4th quarter. Gilbert & Cook Inc. now owns 5,059 shares of the industrial products company’s stock worth $1,496,000 after purchasing an additional 192 shares in the last quarter. 9258 Wealth Management LLC raised its stake in shares of Caterpillar by 1.5% during the fourth quarter. 9258 Wealth Management LLC now owns 3,839 shares of the industrial products company’s stock valued at $1,135,000 after acquiring an additional 55 shares during the last quarter. Rollins Financial grew its stake in shares of Caterpillar by 49.1% in the fourth quarter. Rollins Financial now owns 6,395 shares of the industrial products company’s stock worth $1,891,000 after purchasing an additional 2,107 shares during the last quarter. Gryphon Financial Partners LLC increased its holdings in Caterpillar by 6.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,496 shares of the industrial products company’s stock valued at $420,000 after purchasing an additional 92 shares during the period. Finally, Sachetta LLC bought a new position in Caterpillar during the 4th quarter worth $48,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the transaction, the insider now directly owns 18,515 shares in the company, valued at $6,480,250. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction on Thursday, August 22nd. The stock was 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 $5,347,825.20. The disclosure for this sale can be found here. Insiders sold a total of 7,668 shares of company stock worth $2,665,760 over the last quarter. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT opened at $353.81 on Wednesday. The firm has a market capitalization of $173.03 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.56 and a beta of 1.10. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01. The stock has a 50 day moving average price of $341.63 and a two-hundred day moving average price 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 (NYSE:CAT) last announced its quarterly earnings results 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 return on equity of 59.88% and a net margin of 16.58%. The business had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter in the prior year, the company posted $5.55 earnings per share. Caterpillar’s revenue was down 3.6% compared to the same quarter last year. Equities analysts forecast that Caterpillar Inc. will post 21.88 earnings per share for the current fiscal year.

Caterpillar announced that its board has approved a share repurchase program on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CAT shares. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Evercore ISI lowered their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Citigroup assumed coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective on the stock. Raymond James started coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating for the company. Finally, Truist Financial reissued a “buy” rating and set a $399.00 target price (up from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $336.31.

About Caterpillar

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.