Dimensional Fund Advisors LP Increases Stake in Caterpillar Inc. (NYSE:CAT)

Dimensional Fund Advisors LP raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 5.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,069,840 shares of the industrial products company’s stock after acquiring an additional 165,358 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.63% of Caterpillar worth $1,022,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CAT. Gilbert & Cook Inc. lifted its holdings in Caterpillar by 3.9% during the fourth quarter. Gilbert & Cook Inc. now owns 5,059 shares of the industrial products company’s stock valued at $1,496,000 after purchasing an additional 192 shares in the last quarter. 9258 Wealth Management LLC boosted its holdings in Caterpillar by 1.5% in the 4th quarter. 9258 Wealth Management LLC now owns 3,839 shares of the industrial products company’s stock worth $1,135,000 after buying an additional 55 shares during the period. Rollins Financial increased its stake in Caterpillar by 49.1% in the 4th quarter. Rollins Financial now owns 6,395 shares of the industrial products company’s stock worth $1,891,000 after buying an additional 2,107 shares in the last quarter. Gryphon Financial Partners LLC lifted its position in shares of 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 acquiring an additional 92 shares in the last quarter. Finally, Brown Advisory Inc. boosted its stake in shares of Caterpillar by 17.1% in the fourth quarter. Brown Advisory Inc. now owns 85,363 shares of the industrial products company’s stock worth $25,239,000 after acquiring an additional 12,490 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Up 1.7 %

NYSE:CAT opened at $345.31 on Monday. The company has a market cap of $167.44 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth 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 current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The stock has a fifty day simple moving average of $340.70 and a 200-day simple moving average of $344.05.

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

Caterpillar announced that its board has authorized a share repurchase program on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the industrial products company to reacquire up to 12.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

CAT has been the subject of several recent analyst reports. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday. UBS Group lifted their price target 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 reissued a “buy” rating and set a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Bank of America decreased their target price on Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, 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. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Caterpillar currently has an average rating of “Hold” and a consensus price target of $336.31.

Insider Activity at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gerald Johnson acquired 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 completion of the purchase, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 7,668 shares of company stock worth $2,665,760. Company insiders own 0.33% of the company’s stock.

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.