GK Wealth Management LLC acquired a new position in Caterpillar Inc. (NYSE:CAT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 621 shares of the industrial products company's stock, valued at approximately $241,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. grew its stake in Caterpillar by 2.4% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company's stock valued at $472,000 after acquiring an additional 29 shares in the last quarter. McIlrath & Eck LLC grew its stake in Caterpillar by 3.2% during the fourth quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock valued at $349,000 after acquiring an additional 30 shares in the last quarter. Allen Wealth Management LLC grew its stake in Caterpillar by 0.8% during the first quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company's stock valued at $1,322,000 after acquiring an additional 30 shares in the last quarter. Warwick Investment Management Inc. grew its stake in Caterpillar by 2.6% during the first quarter. Warwick Investment Management Inc. now owns 1,167 shares of the industrial products company's stock valued at $385,000 after acquiring an additional 30 shares in the last quarter. Finally, Compass Financial Services Inc grew its stake in Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 31 shares in the last quarter. Institutional investors own 70.98% of the company's stock.
Analyst Ratings Changes
A number of research firms have commented on CAT. Barclays boosted their price target on shares of Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target for the company in a research note on Wednesday, July 9th. Evercore ISI raised shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price target for the company in a research note on Tuesday, August 19th. Oppenheimer cut their price target on shares of Caterpillar from $493.00 to $480.00 and set an "outperform" rating for the company in a research note on Friday, August 29th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $500.00 price objective on shares of Caterpillar in a research note on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Caterpillar currently has an average rating of "Moderate Buy" and a consensus price target of $460.20.
Read Our Latest Research Report on CAT
Caterpillar Stock Down 0.4%
Shares of NYSE:CAT traded down $1.73 during midday trading on Friday, reaching $465.23. The company's stock had a trading volume of 2,031,631 shares, compared to its average volume of 2,740,486. The firm has a 50 day moving average of $423.99 and a 200-day moving average of $368.16. The firm has a market capitalization of $217.95 billion, a P/E ratio of 23.66, a PEG ratio of 2.74 and a beta of 1.41. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $472.12.
Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). The business had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company earned $5.99 earnings per share. On average, research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.
Insiders Place Their Bets
In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the sale, the chairman owned 482,505 shares in the company, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,653 shares of company stock worth $8,943,642. Company insiders own 0.33% of the company's stock.
Caterpillar Profile
(
Free Report)
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.
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