Goldenstone Wealth Management LLC Makes New Investment in Caterpillar Inc. $CAT

Goldenstone Wealth Management LLC acquired a new position in Caterpillar Inc. (NYSE:CAT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,681 shares of the industrial products company’s stock, valued at approximately $963,000. Caterpillar comprises about 0.7% of Goldenstone Wealth Management LLC’s investment portfolio, making the stock its 28th largest position.

A number of other institutional investors have also recently made changes to their positions in CAT. Torren Management LLC purchased a new position in shares of Caterpillar during the 4th quarter valued at $27,000. IFS Advisors LLC purchased a new position in shares of Caterpillar during the 4th quarter valued at $31,000. Rialto Wealth Management LLC lifted its position in shares of Caterpillar by 47.4% during the 4th quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock valued at $32,000 after buying an additional 18 shares during the last quarter. Noble Wealth Management PBC lifted its position in shares of Caterpillar by 140.0% during the 4th quarter. Noble Wealth Management PBC now owns 60 shares of the industrial products company’s stock valued at $34,000 after buying an additional 35 shares during the last quarter. Finally, Sellwood Investment Partners LLC purchased a new position in shares of Caterpillar during the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of recent research reports. Daiwa Securities Group upped their price target on Caterpillar from $790.00 to $900.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Truist Financial set a $1,043.00 price target on Caterpillar in a research report on Friday, May 1st. Barclays upped their price target on Caterpillar from $700.00 to $800.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Morgan Stanley set a $915.00 price target on Caterpillar and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Caterpillar from $860.00 to $1,125.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Sixteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $923.14.

Insider Activity

In related news, insider Jason Kaiser sold 5,642 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $883.03, for a total transaction of $4,982,055.26. Following the completion of the sale, the insider directly owned 9,594 shares in the company, valued at $8,471,789.82. This represents a 37.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Anthony D. Fassino sold 16,283 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $916.80, for a total value of $14,928,254.40. Following the sale, the insider owned 46,041 shares of the company’s stock, valued at $42,210,388.80. This represents a 26.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 100,551 shares of company stock worth $91,170,351. 0.33% of the stock is currently owned by insiders.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $873.91 on Thursday. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $402.52 billion, a PE ratio of 43.50, a price-to-earnings-growth ratio of 1.70 and a beta of 1.63. The business’s 50-day moving average price is $785.30 and its 200-day moving average price is $687.48. Caterpillar Inc. has a 12 month low of $336.24 and a 12 month high of $931.35.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, beating the consensus estimate of $4.65 by $0.89. The firm had revenue of $17.42 billion for the quarter, compared to analyst estimates of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The company’s revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the company earned $4.25 EPS. Sell-side analysts forecast that Caterpillar Inc. will post 24.67 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Monday, April 20th were given a dividend of $1.51 per share. The ex-dividend date was Monday, April 20th. This represents a $6.04 annualized dividend and a dividend yield of 0.7%. Caterpillar’s dividend payout ratio is 30.06%.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.