GC Wealth Management RIA LLC Purchases 1,306 Shares of Caterpillar Inc. $CAT

Key Points

• GC Wealth Management RIA LLC increased its Caterpillar stake by 41.1% in the first quarter, buying 1,306 shares and bringing its total holdings to 4,480 shares worth about $3.17 million.
• Insider selling was notable, with CFO Andrew R. J. Bonfield and insider Denise C. Johnson both selling large blocks of shares; insiders sold 95,773 shares worth about $87.6 million over the past 90 days.
• Caterpillar posted strong results and raised its dividend, beating quarterly EPS and revenue expectations, while increasing its quarterly payout to $1.63 per share from $1.51. Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average target price of $980.57.

GC Wealth Management RIA LLC boosted its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 41.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,480 shares of the industrial products company's stock after acquiring an additional 1,306 shares during the period. GC Wealth Management RIA LLC's holdings in Caterpillar were worth $3,174,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Klingman & Associates LLC raised its position in shares of Caterpillar by 3.2% during the first quarter. Klingman & Associates LLC now owns 2,802 shares of the industrial products company's stock worth $1,985,000 after purchasing an additional 88 shares during the period. Modern Wealth Management LLC grew its position in Caterpillar by 3.2% in the 1st quarter. Modern Wealth Management LLC now owns 5,507 shares of the industrial products company's stock valued at $4,022,000 after purchasing an additional 172 shares during the period. Keebeck Wealth Management increased its stake in Caterpillar by 90.3% during the 1st quarter. Keebeck Wealth Management now owns 2,205 shares of the industrial products company's stock valued at $1,562,000 after purchasing an additional 1,046 shares in the last quarter. Inceptionr LLC raised its holdings in Caterpillar by 398.5% during the first quarter. Inceptionr LLC now owns 2,672 shares of the industrial products company's stock worth $1,893,000 after buying an additional 2,136 shares during the last quarter. Finally, Greenline Wealth Management LLC lifted its stake in shares of Caterpillar by 1,053.7% in the first quarter. Greenline Wealth Management LLC now owns 473 shares of the industrial products company's stock valued at $335,000 after buying an additional 432 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Insider Buying and Selling

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 15,674 shares of Caterpillar stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $918.71, for a total value of $14,399,860.54. Following the sale, the chief financial officer owned 52,935 shares of the company's stock, valued at approximately $48,631,913.85. The trade was a 22.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Denise C. Johnson sold 12,605 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the completion of the transaction, the insider owned 49,825 shares in the company, valued at approximately $45,236,615.75. The trade was a 20.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 95,773 shares of company stock worth $87,642,635 in the last ninety days. Corporate insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CAT. Bank of America upped their target price on shares of Caterpillar from $930.00 to $989.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Robert W. Baird increased their price objective on Caterpillar from $1,165.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Friday, June 26th. DA Davidson raised their target price on Caterpillar from $650.00 to $845.00 and gave the company a "neutral" rating in a report on Monday, May 4th. Sanford C. Bernstein upped their price target on Caterpillar from $769.00 to $879.00 and gave the stock a "market perform" rating in a report on Friday, May 1st. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Caterpillar in a research report on Friday, May 8th. Fifteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $980.57.

Caterpillar Price Performance

Caterpillar stock opened at $893.02 on Friday. Caterpillar Inc. has a 52 week low of $405.46 and a 52 week high of $1,073.46. The company's 50 day moving average price is $928.87 and its two-hundred day moving average price is $803.52. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock has a market cap of $411.32 billion, a P/E ratio of 44.45, a P/E/G ratio of 1.74 and a beta of 1.57.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.65 by $0.89. The company had revenue of $17.41 billion during the quarter, compared to analyst estimates of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.Caterpillar's quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the company posted $4.25 earnings per share. On average, equities analysts predict that Caterpillar Inc. will post 24.87 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, July 20th. This is a positive change from Caterpillar's previous quarterly dividend of $1.51. Caterpillar's dividend payout ratio (DPR) is presently 32.45%.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company's product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.

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