Waterway Wealth Management LLC Makes New Investment in Caterpillar Inc. (NYSE:CAT)

Waterway Wealth Management LLC purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,190 shares of the industrial products company’s stock, valued at approximately $352,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Schechter Investment Advisors LLC increased its position in shares of Caterpillar by 2.5% during the fourth quarter. Schechter Investment Advisors LLC now owns 5,455 shares of the industrial products company’s stock worth $1,613,000 after purchasing an additional 132 shares in the last quarter. Bar Harbor Wealth Management increased its stake in Caterpillar by 1.6% during the 4th quarter. Bar Harbor Wealth Management now owns 52,174 shares of the industrial products company’s stock valued at $15,426,000 after purchasing an additional 809 shares in the last quarter. Red Door Wealth Management LLC raised its holdings in shares of Caterpillar by 9.0% in the fourth quarter. Red Door Wealth Management LLC now owns 1,784 shares of the industrial products company’s stock worth $527,000 after buying an additional 148 shares during the last quarter. ZRC Wealth Management LLC grew its holdings in shares of Caterpillar by 402.0% during the fourth quarter. ZRC Wealth Management LLC now owns 512 shares of the industrial products company’s stock valued at $140,000 after buying an additional 410 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its holdings in shares of Caterpillar by 29.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 18,645 shares of the industrial products company’s stock valued at $5,513,000 after purchasing an additional 4,293 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Trading Up 0.2 %

Shares of CAT traded up $0.75 during midday trading on Tuesday, hitting $356.70. 1,637,239 shares of the stock were exchanged, compared to its average volume of 2,480,181. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 1.35. The firm has a market cap of $178.14 billion, a P/E ratio of 17.71, a P/E/G ratio of 1.71 and a beta of 1.16. Caterpillar Inc. has a 52-week low of $204.04 and a 52-week high of $365.52. The stock has a fifty day simple moving average of $322.35 and a 200 day simple moving average of $286.12.

Caterpillar (NYSE:CAT) last released its earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, beating the consensus estimate of $4.76 by $0.47. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The company had revenue of $17.07 billion during the quarter, compared to the consensus estimate of $17.06 billion. During the same period in the previous year, the company posted $3.86 EPS. Caterpillar’s revenue was up 2.8% compared to the same quarter last year. On average, research analysts anticipate that Caterpillar Inc. will post 21.25 EPS for the current fiscal year.

Insider Activity

In related news, Director David Maclennan purchased 350 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were bought at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the acquisition, the director now directly owns 5,238 shares in the company, valued at $1,693,812.06. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the completion of the sale, the chief financial officer now directly owns 57,317 shares of the company’s stock, valued at approximately $17,774,001.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Maclennan acquired 350 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was acquired at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the acquisition, the director now owns 5,238 shares in the company, valued at approximately $1,693,812.06. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 45,769 shares of company stock worth $14,509,306. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

CAT has been the subject of several analyst reports. The Goldman Sachs Group boosted their price objective on Caterpillar from $274.00 to $357.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. StockNews.com cut shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. TD Cowen raised their price objective on Caterpillar from $300.00 to $338.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Truist Financial initiated coverage on Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $345.00 to $385.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and an average price target of $297.89.

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.