DKM Wealth Management Inc. Makes New $227,000 Investment in Caterpillar Inc. $CAT

Key Points

• DKM Wealth Management Inc. has made a new investment of approximately $227,000 in Caterpillar Inc. by acquiring 585 shares during the 2nd quarter.
• Institutional investors hold 70.98% of Caterpillar's stocks, with significant stake increases from firms like MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and Fiduciary Financial Group LLC.
• Several research firms have raised their price targets for Caterpillar, now ranging from $476.00 to $520.00, while the stock's average rating remains a "Moderate Buy."

DKM Wealth Management Inc. purchased a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 585 shares of the industrial products company's stock, valued at approximately $227,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Caterpillar by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock worth $26,037,000 after buying an additional 7,125 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in Caterpillar during the first quarter valued at about $427,000. Charles Schwab Investment Management Inc. lifted its position in shares of Caterpillar by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock worth $1,089,798,000 after acquiring an additional 15,347 shares in the last quarter. Heartwood Wealth Advisors LLC lifted its holdings in Caterpillar by 4.2% during the 2nd quarter. Heartwood Wealth Advisors LLC now owns 2,975 shares of the industrial products company's stock worth $1,155,000 after purchasing an additional 121 shares in the last quarter. Finally, Fiduciary Financial Group LLC lifted its holdings in shares of Caterpillar by 81.2% in the second quarter. Fiduciary Financial Group LLC now owns 1,913 shares of the industrial products company's stock worth $748,000 after buying an additional 857 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $462.65, for a total value of $7,941,849.90. Following the completion of the sale, the chairman owned 465,339 shares in the company, valued at $215,289,088.35. The trade was a 3.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on CAT. Truist Financial raised their price target on Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Evercore ISI raised shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price target on the stock in a research note on Tuesday, August 19th. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price on the stock in a research report on Wednesday, July 9th. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $464.33.

Caterpillar Stock Down 0.2%

CAT stock opened at $470.50 on Thursday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $485.34. The business's 50 day moving average price is $429.02 and its two-hundred day moving average price is $371.77. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The company has a market capitalization of $220.42 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 2.86 and a beta of 1.41.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). The firm 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%.Caterpillar's revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $5.99 earnings per share. As a group, analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

About Caterpillar

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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