Bradley Foster & Sargent Inc. CT Has $36.41 Million Position in Caterpillar Inc. (NYSE:CAT)

Bradley Foster & Sargent Inc. CT reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,310 shares of the industrial products company’s stock after selling 2,353 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Caterpillar were worth $36,411,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Richardson Financial Services Inc. acquired a new position in shares of Caterpillar during the 4th quarter worth about $27,000. Thompson Investment Management Inc. acquired a new position in shares of Caterpillar in the 1st quarter valued at approximately $27,000. Bbjs Financial Advisors LLC acquired a new position in shares of Caterpillar in the 2nd quarter valued at approximately $28,000. Financial Connections Group Inc. acquired a new position in shares of Caterpillar in the 2nd quarter valued at approximately $28,000. Finally, Fairman Group LLC acquired a new position in shares of Caterpillar in the 1st quarter valued at approximately $29,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on CAT shares. Truist Financial reiterated a “buy” rating and issued a $399.00 price objective (up from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Citigroup started coverage on Caterpillar in a research report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective for the company. Barclays boosted their price objective on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, UBS Group upped their price target on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research 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 assigned a buy rating to the company. Based on data from MarketBeat, Caterpillar presently has an average rating of “Hold” and an average price target of $336.31.

Insider Activity at Caterpillar

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now owns 2,842 shares in the company, valued at $962,272.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction 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 approximately $5,347,825.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gerald Johnson acquired 100 shares of the stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 7,668 shares of company stock worth $2,665,760. Company insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 1.7 %

Shares of Caterpillar stock opened at $353.81 on Wednesday. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $382.01. The business’s 50 day moving average is $341.63 and its 200-day moving average is $344.27. 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 stock has a market cap 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 (NYSE:CAT) last posted its quarterly earnings results 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. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. During the same quarter in the prior year, the business earned $5.55 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts predict that Caterpillar Inc. will post 21.88 earnings per share for the current fiscal year.

Caterpillar declared that its board has authorized a stock repurchase program on Wednesday, June 12th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 12.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are 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.