Angeles Investment Advisors LLC Sells 426 Shares of Caterpillar Inc. (NYSE:CAT)

Angeles Investment Advisors LLC lessened its holdings in Caterpillar Inc. (NYSE:CAT) by 37.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 703 shares of the industrial products company’s stock after selling 426 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Caterpillar were worth $234,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Gilbert & Cook Inc. lifted its position in Caterpillar by 3.9% during the fourth 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 during the period. 9258 Wealth Management LLC lifted its position in Caterpillar by 1.5% during the fourth quarter. 9258 Wealth Management LLC now owns 3,839 shares of the industrial products company’s stock worth $1,135,000 after purchasing an additional 55 shares during the period. Rollins Financial lifted its position in Caterpillar by 49.1% during 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 period. Gryphon Financial Partners LLC lifted its position in Caterpillar by 6.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,496 shares of the industrial products company’s stock worth $420,000 after purchasing an additional 92 shares during the period. Finally, Brown Advisory Inc. lifted its position in Caterpillar by 17.1% during the fourth quarter. Brown Advisory Inc. now owns 85,363 shares of the industrial products company’s stock worth $25,239,000 after purchasing an additional 12,490 shares during the period. Institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Caterpillar news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction 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 sale, 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. In the last three months, insiders sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Citigroup started coverage on Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price for the company. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday. Bank of America lowered their price objective on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Truist Financial reaffirmed a “buy” rating and issued a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. Finally, Evercore ISI lowered their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $336.31.

Caterpillar Price Performance

Caterpillar stock opened at $347.96 on Tuesday. The stock has a market capitalization of $170.17 billion, a price-to-earnings ratio of 15.71, a PEG 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’s 50 day moving average price is $341.08 and its two-hundred day moving average price is $344.15. 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 issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. During the same period last year, the business earned $5.55 EPS. Caterpillar’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts predict that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 12th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

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.