September 15, 2023 – Symmetry Partners LLC, an investment management firm, has recently reduced its holdings in Caterpillar Inc. (NYSE:CAT) by 55.8% during the second quarter of this year. According to the company’s Form 13F filing with the Securities & Exchange Commission, Symmetry Partners LLC owned 4,518 shares of Caterpillar’s stock after selling 5,702 shares during the quarter. The total value of Symmetry Partners LLC’s holdings in Caterpillar amounted to $1,112,000 at the end of the reporting period.
Caterpillar is an industrial products company that operates in various sectors such as construction, mining, and energy. The company recently released its earnings results for the quarter ended August 1st. Caterpillar reported earnings per share (EPS) of $5.55 for the quarter, surpassing analysts’ consensus estimates of $4.57 by $0.98.
In terms of revenue, Caterpillar generated $17.30 billion during the same quarter which exceeded analysts’ expectations of $16.46 billion. This represents a significant increase of 21.4% compared to the same period last year.
Furthermore, Caterpillar’s return on equity stood at an impressive 55.93%, indicating strong profitability and efficient use of shareholders’ equity. The net margin for the company was reported at 12.91%, further highlighting its ability to generate profits.
Analysts predict that Caterpillar will post EPS of approximately $19.82 for the current fiscal year on average.
Caterpillar has consistently demonstrated its resilience and ability to perform well in various market conditions due to its diversified product portfolio and global presence. The company’s success can be attributed to its commitment to innovation and continuous improvement in order to meet the demands of its customers effectively.
As one of the world’s leading providers of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and related services, Caterpillar has positioned itself as a key player in the industry.
The recent decrease in holdings by Symmetry Partners LLC may be due to various factors such as portfolio adjustments or changes in investment strategies. It is worth noting that fluctuations in shareholdings are a common occurrence in the dynamic world of investment management.
Investors and industry experts will continue to closely monitor Caterpillar’s performance and strategic initiatives in the coming months. The company’s ability to navigate potential challenges while capitalizing on emerging opportunities will play a crucial role in shaping its future success.
In conclusion, Symmetry Partners LLC has reduced its holdings in Caterpillar Inc., a prominent industrial products company. Despite this adjustment, Caterpillar remains well-positioned with strong financial performance and impressive earnings results for the most recent quarter. As investors eagerly await further developments, analysts project positive prospects for Caterpillar in the current fiscal year.
Updated on: 03/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
We did not find social sentiment data for this stock
|Analyst / firm||Rating|
|Cowen & Co.||Buy|
Caterpillar Inc.: Changes in Positions by Hedge Funds and Institutional Investors
Caterpillar Inc., the industrial products company, has seen changes in its positions by various hedge funds and institutional investors. Premier Asset Management LLC increased its stake in Caterpillar by 3.1% during the fourth quarter, acquiring an additional 43 shares, resulting in a total ownership of 1,418 shares worth $340,000. Enterprise Financial Services Corp also raised its position in the company by 3.2% during the same period, purchasing an additional 43 shares and now owning a total of 1,397 shares valued at $335,000.
Another player, Private Ocean LLC, demonstrated impressive growth with a 30.9% increase in its position during the first quarter. The company now owns 195 shares of Caterpillar’s stock worth $45,000 after buying an additional 46 shares. Asset Management Group Inc., on the other hand, slightly increased its stake by 0.4% during the fourth quarter, accumulating an extra 47 shares for a total of 10,734 shares valued at $2,572,000.
Furthermore, McElhenny Sheffield Capital Management LLC raised its stake in Caterpillar by 2.3% during the first quarter and acquired an additional 47 shares. Currently holding a total of 2,062 shares worth $472,000.
According to reports from Bloomberg and data from September 15th this year), approximately 69.20% of Caterpillar’s stock is owned by institutional investors and hedge funds.
In terms of market performance , NYSE CAT opened at $282.56 on Friday with a fifty-day moving average price of $272.30 and two-hundred day moving average price of $242.05 . The stock has a market capitalization of approximately $144.13 billion , with a price-to-earnings ratio (P/E) standing at around1 7 .58. The company’s price-to-earnings growth ratio ( PEG) is reported to be approximately 1.16 and it has a beta of 1.13, indicating slightly higher volatility than the market average.
Caterpillar Inc. also has a reasonably decent financial health given its debt-to-equity ratio of 1.26, which signifies that the company relies more on external funding rather than internal resources to finance its activities efficiently. Looking at liquidity ratios, Caterpillar has a quick ratio of 0.83 and a current ratio of 1 .33 , indicating that the company should not face short-term liquidity issues and can meet its current obligations comfortably.
In recent news, especially concerning insider trading activity , it was revealed through Securities & Exchange Commission filings that on Tuesday, August 29th, Anthony D. Fassino, an insider at Caterpillar Inc., sold 2,923 shares of the firm’s stock at an average price of $279 per share for a total transaction value of $815,517 . After this transaction was completed , Fassino now owns 16,182 shares in the company valued at $4,514,778 . Alongside Fassino’s transaction , Cheryl H. Johnson , another insider at Caterpillar , sold 6,415 shares of stock on Tuesday July 18 th at an average priceof $260 per share for a total sum amounting to $1,,667,,900 . Afterward s,,,,,,,,(end) the sale was finalized , Johnson directly owned 16,,362 sha re s i n the company with an e valuated worth o f -$4-,-25–4-,–120 At present ,’-‘—’95%_ antjP_ls,—__have been so_lH__by insiders_,______indjie cntrihutesS’toOJ33% of tlie total company’s stock:
Regarding analysts’ views on the stock, several research firms have expressed their opinions. JPMorgan Chase & Co., for example, increased Caterpillar’s target price from $275 to $315 and assigned the stock an “overweight” rating in a research report released on August 2nd. Similar to JPMorgan, Bank of America also raised its target price from $283 to $323 and gave the stock a “buy” rating in their research report on the same day.
On the other hand, StockNews.com downgraded Caterpillar’s rating from “strong-buy” to just “buy” in a research note published recently. TD Cowen raised its price objective from $287 to $320 and assigned the stock an “outperform” rating in their report on August 2nd. Lastly, Credit Suisse Group also upped their target price on Caterpillar from $279 to $334 and gave it an “outperform” rating.
To summarize analyst sentiment, three out of nineteen financial professionals rated the stock as a sell while six deemed it as a hold. The remaining ten analysts gave Caterpillar a buy rating. Based on Bloomberg data compiled by different investment analysts, the consensus rating for Cater