Goldstone Financial Group LLC Acquires 857 Shares of Caterpillar Inc. $CAT

Key Points

• Goldstone Financial Group LLC increased its stake in Caterpillar Inc. by 33.3% during the second quarter, bringing its total holdings to 3,430 shares valued at approximately $1.37 million.
• Major institutional investors have also significantly increased their stakes in Caterpillar, with GAMMA Investing LLC raising its holdings by an extraordinary 43,447.3%.
• Caterpillar's stock recently received several analyst upgrades, with JPMorgan Chase raising its price target from $475.00 to $520.00 and maintaining an "overweight" rating for the stock.

Goldstone Financial Group LLC boosted its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 33.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,430 shares of the industrial products company's stock after buying an additional 857 shares during the period. Goldstone Financial Group LLC's holdings in Caterpillar were worth $1,365,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CAT. Compass Financial Services Inc increased its position in shares of 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 purchasing an additional 31 shares during the period. Investment Management Corp VA ADV bought a new stake in shares of Caterpillar during the fourth quarter valued at approximately $33,000. Curat Global LLC bought a new stake in shares of Caterpillar during the first quarter valued at approximately $33,000. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar during the first quarter valued at approximately $33,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Caterpillar in the 4th quarter valued at $36,000. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CAT has been the topic of several recent analyst reports. Evercore ISI raised 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. Citigroup boosted their price target on Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Robert W. Baird boosted their price objective on Caterpillar from $495.00 to $540.00 and gave the stock an "outperform" rating in a research note on Wednesday. Sanford C. Bernstein restated a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Finally, Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price for the company in a research report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Caterpillar currently has an average rating of "Moderate Buy" and an average price target of $460.20.

Caterpillar Stock Performance

Shares of CAT traded down $1.61 during mid-day trading on Friday, reaching $465.36. The company's stock had a trading volume of 2,097,415 shares, compared to its average volume of 2,741,066. The stock has a market cap of $218.01 billion, a P/E ratio of 23.66, a PEG ratio of 2.74 and a beta of 1.41. The business has a 50-day simple moving average of $423.99 and a two-hundred day simple moving average of $368.16. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $472.12.

Caterpillar (NYSE:CAT - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business's revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the business posted $5.99 earnings per share. As a group, equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,161 shares of Caterpillar 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 completion of the sale, the insider directly owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares of the company's stock, valued at $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,653 shares of company stock valued at $8,943,642. Insiders own 0.33% of the company's stock.

Caterpillar Company Profile

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.