Jmac Enterprises LLC Invests $234,000 in Caterpillar Inc. $CAT

Key Points

• Jmac Enterprises LLC has invested $234,000 in Caterpillar Inc. by acquiring 604 shares in the second quarter, as disclosed in a recent filing with the SEC.
• Several hedge funds have also increased their stakes in Caterpillar, with institutional investors now owning 70.98% of the company's stock.
• Caterpillar's recent earnings report showed a quarterly EPS of $4.72, missing estimates, but the company had revenue of $16.57 billion, exceeding analyst expectations.

Jmac Enterprises LLC acquired a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 604 shares of the industrial products company's stock, valued at approximately $234,000.

Several other hedge funds also recently modified their holdings of CAT. Compass Financial Services Inc increased its holdings 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 worth $31,000 after buying an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar during the second quarter worth approximately $32,000. Curat Global LLC acquired a new position in shares of Caterpillar during the first quarter worth approximately $33,000. Redmont Wealth Advisors LLC acquired a new position in shares of Caterpillar during the first quarter worth approximately $33,000. Finally, Fiduciary Wealth Partners LLC acquired a new position in shares of Caterpillar during the first quarter worth approximately $45,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Activity

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,819 shares of company stock valued at $16,885,492 in the last quarter. Company insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CAT shares. Jefferies Financial Group reiterated a "buy" rating and set a $500.00 target price on shares of Caterpillar in a research report on Friday, August 29th. Barclays upped their target price on shares of Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Truist Financial upped their target price on shares of Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Sanford C. Bernstein restated a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Finally, Bank of America increased their price objective on shares of Caterpillar from $495.00 to $517.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $466.53.

Caterpillar Price Performance

Shares of CAT stock opened at $490.88 on Friday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $495.98. The firm has a market capitalization of $229.97 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 2.92 and a beta of 1.46. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The firm has a fifty day moving average of $435.71 and a 200-day moving average of $377.37.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same period last year, the firm earned $5.99 EPS. Caterpillar's quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

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.

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