GK Wealth Management LLC Purchases New Shares in Caterpillar Inc. $CAT

by · The Cerbat Gem

GK Wealth Management LLC bought a new position in Caterpillar Inc. (NYSE:CAT – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 621 shares of the industrial products company’s stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAT. Compass Financial Services Inc increased its stake 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 purchasing an additional 31 shares during the period. Investment Management Corp VA ADV purchased a new stake in Caterpillar in the fourth quarter worth $33,000. Curat Global LLC purchased a new stake in Caterpillar in the first quarter worth $33,000. Redmont Wealth Advisors LLC purchased a new stake in Caterpillar in the first quarter worth $33,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Caterpillar during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, 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 can be accessed through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,653 shares of company stock valued at $8,943,642. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CAT shares. Jefferies Financial Group restated a “buy” rating and set a $500.00 price target on shares of Caterpillar in a research note on Friday, August 29th. Bank of America raised their price target on Caterpillar from $460.00 to $495.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Oppenheimer cut their price target on Caterpillar from $493.00 to $480.00 and set an “outperform” rating on the stock in a research note on Friday, August 29th. Melius Research upgraded Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a research note on Wednesday, July 9th. Finally, Citigroup raised 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. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and a consensus target price of $457.20.

View Our Latest Stock Report on Caterpillar

Caterpillar Price Performance

Shares of NYSE CAT opened at $431.10 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The company has a market cap of $201.96 billion, a PE ratio of 21.93, a P/E/G ratio of 2.62 and a beta of 1.41. The business has a 50-day simple moving average of $420.04 and a two-hundred day simple moving average of $365.49. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $441.15.

Caterpillar (NYSE:CAT – Get Free Report) last issued 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 business had revenue of $16.57 billion during 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%.Caterpillar’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $5.99 EPS. As a group, equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Profile

(Free Report)

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.

Further Reading

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