Caterpillar Inc. (NYSE:CAT) Shares Acquired by Ameriprise Financial Inc.

Posted by Defense World Staff on Sep 15th, 2023

Ameriprise Financial Inc. boosted its holdings in Caterpillar Inc. (NYSE:CAT – Free Report) by 4.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,589,593 shares of the industrial products company’s stock after buying an additional 73,565 shares during the quarter. Ameriprise Financial Inc. owned 0.31% of Caterpillar worth $363,773,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CAT. Horan Securities Inc. increased its stake in Caterpillar by 678.6% in the 1st quarter. Horan Securities Inc. now owns 109 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 95 shares in the last quarter. Atlas Capital Advisors LLC raised its holdings in shares of Caterpillar by 272.4% during the first quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 79 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Caterpillar by 730.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 95 shares in the last quarter. TFC Financial Management Inc. boosted its stake in Caterpillar by 470.8% in the 1st quarter. TFC Financial Management Inc. now owns 137 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 113 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in Caterpillar during the 1st quarter worth approximately $32,000. Institutional investors own 69.20% of the company’s stock.

Insider Transactions at Caterpillar

In related news, insider Cheryl H. Johnson sold 6,415 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $260.00, for a total transaction of $1,667,900.00. Following the transaction, the insider now owns 16,362 shares of the company’s stock, valued at $4,254,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Cheryl H. Johnson sold 6,415 shares of the business’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $260.00, for a total transaction of $1,667,900.00. Following the transaction, the insider now directly owns 16,362 shares in the company, valued at $4,254,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony D. Fassino sold 2,923 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $279.00, for a total value of $815,517.00. Following the completion of the sale, the insider now owns 16,182 shares of the company’s stock, valued at approximately $4,514,778. The disclosure for this sale can be found here. Insiders sold a total of 54,918 shares of company stock worth $15,299,870 over the last three months. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on CAT. Barclays raised their target price on Caterpillar from $225.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 2nd. Tigress Financial upped their target price on Caterpillar from $266.00 to $282.00 in a report on Wednesday, May 31st. DA Davidson initiated coverage on shares of Caterpillar in a report on Wednesday, June 21st. They set a “neutral” rating and a $263.00 price target for the company. TD Cowen upped their price objective on shares of Caterpillar from $287.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Finally, Bank of America lifted their target price on shares of Caterpillar from $283.00 to $323.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $267.00.

Read Our Latest Report on CAT

Caterpillar Price Performance

Shares of Caterpillar stock opened at $282.56 on Friday. Caterpillar Inc. has a 1-year low of $160.60 and a 1-year high of $293.88. The firm has a fifty day simple moving average of $272.30 and a 200-day simple moving average of $242.05. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $144.13 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 1.18 and a beta of 1.13.

Caterpillar (NYSE:CAT – Get Free Report) last issued its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $5.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.57 by $0.98. Caterpillar had a return on equity of 55.93% and a net margin of 12.91%. The company had revenue of $17.30 billion for the quarter, compared to the consensus estimate of $16.46 billion. During the same period last year, the business posted $3.18 earnings per share. The firm’s revenue was up 21.4% compared to the same quarter last year. On average, sell-side analysts expect that Caterpillar Inc. will post 19.82 earnings per share for the current year.

About Caterpillar

(Free Report)

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.