Panoramic Capital Partners LLC Invests $229,000 in Caterpillar Inc. $CAT

Key Points

• Panoramic Capital Partners LLC has invested approximately $229,000 in Caterpillar Inc., purchasing 576 shares in the second quarter.
• Wall Street analysts are optimistic about Caterpillar's stock, with multiple brokerages reaffirming buy ratings and raising target prices significantly.
• Caterpillar's stock has shown strong growth, reaching a current price of $477.03, with ratings reflecting a majority "Moderate Buy" stance among analysts.

Panoramic Capital Partners LLC purchased a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 576 shares of the industrial products company's stock, valued at approximately $229,000.

Other institutional investors have also recently bought and sold shares of the company. Compass Financial Services Inc boosted its holdings in shares of Caterpillar by 49.2% in 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 during the period. Family Legacy Financial Solutions LLC purchased a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $32,000. Curat Global LLC acquired a new position in Caterpillar in the 1st quarter worth approximately $33,000. Redmont Wealth Advisors LLC purchased a new position in Caterpillar during the 1st quarter worth approximately $33,000. Finally, Fiduciary Wealth Partners LLC acquired a new stake in Caterpillar during the 1st quarter valued at $45,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CAT. Citigroup reaffirmed a "buy" rating on shares of Caterpillar in a research report on Tuesday, September 23rd. Truist Financial lifted their target price on Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Robert W. Baird increased their price target on shares of Caterpillar from $495.00 to $540.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 17th. Evercore ISI raised shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price objective on the stock in a research report on Tuesday, August 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Two equities research 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 stock. According to MarketBeat, Caterpillar has an average rating of "Moderate Buy" and an average target price of $466.53.

Caterpillar Stock Up 1.1%

Caterpillar stock opened at $477.03 on Wednesday. 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 $485.34. The firm's fifty day simple moving average is $433.41 and its 200-day simple moving average is $375.62. The company has a market capitalization of $223.48 billion, a P/E ratio of 24.26, a P/E/G ratio of 2.87 and a beta of 1.41.

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

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 2,161 shares of the business'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 value of $902,649.70. Following the completion of the sale, the insider directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan C. Schwab sold 2,324 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director directly owned 6,917 shares of the company's stock, valued at $2,835,970. The trade was a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,819 shares of company stock valued at $16,885,492. Corporate insiders own 0.33% of the company's stock.

Caterpillar 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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