Perigon Wealth Management LLC Buys 916 Shares of Caterpillar Inc. $CAT

Key Points

• Perigon Wealth Management LLC increased its stake in Caterpillar Inc. by 5.8%, acquiring an additional 916 shares, bringing its total holdings to 16,635 shares valued at approximately $6.46 million.
• Caterpillar reported $4.72 EPS for the recent quarter, missing analysts' expectations of $4.88 EPS, with revenue of $16.57 billion, slightly above the expected amount.
• Analysts have raised their price targets for Caterpillar, with JPMorgan Chase increasing theirs from $475 to $520, indicating a strong positive outlook for the stock.

Perigon Wealth Management LLC boosted its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 5.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,635 shares of the industrial products company's stock after acquiring an additional 916 shares during the period. Perigon Wealth Management LLC's holdings in Caterpillar were worth $6,458,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CAT. Compass Financial Services Inc increased its position in 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 last quarter. Family Legacy Financial Solutions LLC bought a new stake in Caterpillar in the 2nd quarter valued at about $32,000. Curat Global LLC bought a new position in Caterpillar during the first quarter worth about $33,000. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar in the first quarter valued at approximately $33,000. Finally, Mattson Financial Services LLC bought a new position in Caterpillar in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Trading Down 1.3%

CAT stock opened at $463.76 on Friday. Caterpillar Inc. has a one year low of $267.30 and a one year high of $485.34. The company has a market capitalization of $217.26 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 2.86 and a beta of 1.41. The company's 50 day moving average price is $429.93 and its two-hundred day moving average price is $372.59. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $16.14 billion. During the same quarter in the previous year, the business earned $5.99 EPS. Caterpillar's revenue for the quarter was down .7% compared to the same quarter last year. As a group, analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on CAT shares. JPMorgan Chase & Co. raised their price target on Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Jefferies Financial Group restated a "buy" rating and issued a $500.00 price objective on shares of Caterpillar in a research report on Friday, August 29th. Truist Financial increased their target price on shares of Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Robert W. Baird boosted their price target on shares of Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $464.33.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 2,324 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. This represents a 25.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction 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 in the company, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,819 shares of company stock worth $16,885,492 in the last ninety days. 0.33% of the stock is owned by insiders.

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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