Citizens Financial Group Inc. RI Raises Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Citizens Financial Group Inc. RI raised its stake in Caterpillar Inc. (NYSE:CAT) by 50.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,721 shares of the industrial products company’s stock after purchasing an additional 3,251 shares during the period. Citizens Financial Group Inc. RI’s holdings in Caterpillar were worth $3,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Thompson Investment Management Inc. bought a new position in shares of Caterpillar during the 1st quarter worth approximately $27,000. Fairman Group LLC purchased a new position in Caterpillar in the first quarter worth $29,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Caterpillar during the 2nd quarter valued at $28,000. Financial Connections Group Inc. acquired a new stake in shares of Caterpillar in the 2nd quarter worth $28,000. Finally, Richardson Financial Services Inc. purchased a new position in Caterpillar during the 4th quarter worth $27,000. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Caterpillar

In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now 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 valued at $2,665,760. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 0.8 %

Caterpillar stock opened at $347.96 on Tuesday. The business’s 50-day moving average price is $341.08 and its 200 day moving average price is $344.15. 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 firm has a market cap of $170.17 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth 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.

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

Caterpillar announced that its Board of Directors has initiated a stock buyback plan 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 reacquire up to 12.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

CAT has been the subject of several recent analyst reports. Raymond James began coverage on Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating for the company. Citigroup assumed coverage on shares of Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price on the stock. StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday. Bank of America cut 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, Barclays lifted 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 investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average 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.