Spectrum Planning & Advisory Services Inc. Buys New Position in Caterpillar Inc. $CAT

Key Points

• Spectrum Planning & Advisory Services Inc. has acquired a new stake in Caterpillar Inc., purchasing 1,106 shares valued at approximately $429,000 in the second quarter.
• Several institutional investors, including Beacon Investment Advisory Services Inc. and Mather Group LLC, have increased their positions in Caterpillar, demonstrating strong institutional interest in the stock.
• Wall Street analysts have a positive outlook on Caterpillar, with target price adjustments raising the average target to $464.33, backed by numerous "buy" ratings from various research firms.

Spectrum Planning & Advisory Services Inc. bought 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 institutional investor bought 1,106 shares of the industrial products company's stock, valued at approximately $429,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Beacon Investment Advisory Services Inc. grew its position in Caterpillar by 10.0% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 26,933 shares of the industrial products company's stock valued at $10,456,000 after buying an additional 2,440 shares in the last quarter. DKM Wealth Management Inc. bought a new position in Caterpillar in the 2nd quarter valued at about $227,000. Verum Partners LLC grew its position in Caterpillar by 2.5% in the 2nd quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company's stock valued at $411,000 after buying an additional 26 shares in the last quarter. Wealth Effects LLC grew its position in Caterpillar by 4.8% in the 2nd quarter. Wealth Effects LLC now owns 3,063 shares of the industrial products company's stock valued at $1,189,000 after buying an additional 141 shares in the last quarter. Finally, Mather Group LLC. boosted its position in shares of Caterpillar by 55.9% during the 2nd quarter. Mather Group LLC. now owns 19,450 shares of the industrial products company's stock valued at $7,551,000 after purchasing an additional 6,976 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. DA Davidson raised their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Robert W. Baird raised their price objective 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. Barclays raised their price objective on shares of Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Jefferies Financial Group restated a "buy" rating and set a $500.00 price objective on shares of Caterpillar in a research report on Friday, August 29th. Finally, Truist Financial raised their price objective on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Two research 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 company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $464.33.

Caterpillar Price Performance

NYSE CAT opened at $470.50 on Thursday. The company has a 50 day simple moving average of $429.02 and a 200-day simple moving average of $371.77. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The firm has a market capitalization of $220.42 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 2.86 and a beta of 1.41. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $485.34.

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

Insider Transactions at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the firm's stock in a transaction that occurred 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 transaction, the director owned 6,917 shares of the company's stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold 38,819 shares of company stock valued at $16,885,492 over the last three months. 0.33% of the stock is owned by corporate 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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