The Vanguard Group, Inc. has recently announced that it has increased stake in Caterpillar Inc. (NYSE:CAT) by 0.73%. After grabbing 46.31 million shares, the institutional investor is now in possession of 0.33 million shares of the Industrials Company. The new investment brought the stake of investor firm to 8.77% having worth around $10.03 billion. Moreover, Capital Research & Management Co increased its share by 7.0 million to have a control over 27.12 million shares. And Geode Capital Management LLC raised its holdings to 0.11 million shares by acquiring 8.89 million shares or 1.68% of the stake.
Caterpillar Inc. (CAT) concluded trading on 11/17/22 at a closing price of $230.44, with 3.26 million shares of worth about $750.49 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 11.45% during that period and on Thursday the price saw a loss of about -0.85%. Currently the company’s common shares owned by public are about 525.00M shares, out of which, 519.21M shares are available for trading.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 56 times over the past 12 months. They bought 207,326 shares in 30 of the transactions. In 26 selling transactions, insiders dumped 178,799 shares.
Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and Washington Mutual Investors Fund are the top 3 mutual funds which are holding stakes in Caterpillar Inc. Vanguard Total Stock Market Index is currently holding 15.77 million shares of worth totaling $3.41 billion. The company recently came selling 55145.0 shares which brought its stake up to 2.99% of the company’s outstanding shares. Vanguard 500 Index Fund sold 28993.0 shares, after which its hold over company’s outstanding shares shrunk to 2.27%, leaving 11.96 million shares with the mutual fund that have a worth of about $2.59 billion. Washington Mutual Investors Fund, after buying 6.6 million shares, have now control over 1.25% of the stake in the company. It holds 0.2 million shares of worth $1.43 billion.
Caterpillar Inc. (NYSE: CAT) started trading at $227.75, below -$4.67 from concluding price of the previous day. However, the stock later moved at a day high price of 230.53, or with a loss of -0.85%. Stock saw a price change of -0.86% in past 5 days and over the past one month there was a price change of 24.96%. Year-to-date (YTD), CAT shares are showing a performance of 11.46% which increased to 13.53% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $160.60 but also hit the highest price of $239.85 during that period. The average intraday trading volume for Caterpillar Inc. shares is 3.06 million. The stock is currently trading 6.23% above its 20-day simple moving average (SMA20), while that difference is up 19.31% for SMA50 and it goes to 15.58% higher than SMA200.
The Vanguard Group, Inc. acquired 46.31 million shares of Caterpillar Inc. having value of about $10.03 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.33 million shares in the company valued at close to $77075266.8, or have control over 0.73% stake in the company. Caterpillar Inc. (NYSE: CAT) currently have 525.00M outstanding shares and institutions hold larger chunk of about 72.10% of that. Holding of mutual funds in the company is about 33.83% while other institutional holders and individual stake holders have control over 36.31% and 1.10% of the stake respectively.
The stock has a current market capitalization of $117.87B and its 3Y-monthly beta is at 1.12. PE ratio of stock for trailing 12 months is 16.83, while it has posted earnings per share of $13.69 in the same period. Its PEG reads 1.30 and has Quick Ratio of 0.90 while making debt-to-equity ratio of 2.34. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CAT, volatility over the week remained 2.36% while standing at 2.96% over the month.
Analysts are in expectations that Caterpillar Inc. (CAT) stock would likely to be making an EPS of $3.42 in the current quarter, while forecast for next quarter EPS is $3.4 and it is $13.69 for next year. For the current quarter EPS, analysts have given the company a lowest target $2.74 which is $3.97 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.43 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 121.20% while it is estimated to increase by 7.83% in next year. EPS is likely to shrink at an annualized rate of 12.91% for next 5-years, compared to annual growth of 153.50% made by the stock over the past 5-years.
Analysts at 27 brokerage firms have issued recommendations for the Caterpillar Inc. (CAT)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.00. Out of those 27 Wall Street analysts, 10 recommended a “Buy” rating, while 14 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by UBS on October 31, 2022 offering a Neutral rating for the stock and assigned a target price range of between $225 and $230 to it. Coverage by Deutsche Bank stated Caterpillar Inc. (CAT) stock as a Hold in their note to investors on October 28, 2022, suggesting a price target of $221 for the stock. On August 03, 2022, Bernstein Downgrade their recommendations, while on March 11, 2022, Wells Fargo Initiated their ratings for the stock with a price target of $231. Stock get a Buy rating from Jefferies on March 08, 2022.