Jmac Enterprises LLC Takes Position in Caterpillar Inc. $CAT

Jmac Enterprises LLC acquired a new stake in Caterpillar Inc. (NYSE:CAT) during the second quarter, Holdings Channel reports. The institutional investor acquired 604 shares of the industrial products company’s stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAT. Compass Financial Services Inc increased its stake in Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after buying an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC acquired a new stake in Caterpillar in the 2nd quarter valued at $32,000. Curat Global LLC acquired a new stake in Caterpillar in the 1st quarter valued at $33,000. Redmont Wealth Advisors LLC acquired a new stake in Caterpillar in the 1st quarter valued at $33,000. Finally, Fiduciary Wealth Partners LLC acquired a new stake in Caterpillar in the 1st quarter valued at $45,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,819 shares of company stock valued at $16,885,492. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CAT. Citigroup reiterated a “buy” rating on shares of Caterpillar in a research note on Tuesday, September 23rd. 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 report on Wednesday, September 17th. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective for the company in a research report on Wednesday, July 9th. Barclays lifted 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. Finally, Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective for the company in a research report on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $466.53.

Caterpillar Stock Performance

Shares of CAT stock opened at $490.88 on Friday. The company has a market capitalization of $229.97 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 2.92 and a beta of 1.46. 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 50-day simple moving average of $435.71 and a 200 day simple moving average of $377.37. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $495.98.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). The company had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $5.99 EPS. On average, sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

About Caterpillar

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.