GC Wealth Management RIA LLC Buys 2,221 Shares of Caterpillar Inc. $CAT

GC Wealth Management RIA LLC grew its position in shares of Caterpillar Inc. (NYSE:CAT) by 188.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,397 shares of the industrial products company’s stock after purchasing an additional 2,221 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Caterpillar were worth $1,319,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CAT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Caterpillar by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock valued at $26,037,000 after acquiring an additional 7,125 shares during the last quarter. Ransom Advisory Ltd acquired a new position in shares of Caterpillar in the 1st quarter valued at about $427,000. Charles Schwab Investment Management Inc. grew its stake in Caterpillar by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock worth $1,089,798,000 after purchasing an additional 15,347 shares during the period. Heartwood Wealth Advisors LLC increased its holdings in Caterpillar by 4.2% in the second quarter. Heartwood Wealth Advisors LLC now owns 2,975 shares of the industrial products company’s stock worth $1,155,000 after purchasing an additional 121 shares in the last quarter. Finally, Fiduciary Financial Group LLC lifted its stake in Caterpillar by 81.2% in the second quarter. Fiduciary Financial Group LLC now owns 1,913 shares of the industrial products company’s stock valued at $748,000 after buying an additional 857 shares during the period. 70.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CAT has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on shares of Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Jefferies Financial Group restated a “buy” rating and issued a $500.00 price target on shares of Caterpillar in a report on Friday, August 29th. Bank of America upped their price objective on shares of Caterpillar from $495.00 to $517.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Truist Financial raised 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. Finally, JPMorgan Chase & Co. upped their price target on Caterpillar from $475.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. Two 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $466.53.

Insider Buying and Selling at Caterpillar

In other news, Director Susan C. Schwab sold 2,324 shares of the business’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 sale, the director owned 6,917 shares in the company, valued at approximately $2,835,970. The trade was a 25.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction dated 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 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 38,819 shares of company stock valued at $16,885,492. 0.33% of the stock is currently owned by company insiders.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $471.68 on Tuesday. The company’s fifty day simple moving average is $432.21 and its two-hundred day simple moving average is $374.91. The firm has a market cap of $220.97 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 2.83 and a beta of 1.41. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $485.34.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same quarter in the prior year, the firm earned $5.99 EPS. Caterpillar’s quarterly revenue was down .7% compared to the same quarter last year. As a group, equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

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.