Caterpillar Inc. $CAT Shares Acquired by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC lifted its holdings in Caterpillar Inc. (NYSE:CAT) by 135.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,852 shares of the industrial products company’s stock after purchasing an additional 6,240 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Caterpillar were worth $7,688,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CAT. Lam Group Inc. acquired a new stake in Caterpillar in the first quarter worth about $26,000. Torren Management LLC purchased a new position in shares of Caterpillar in the 4th quarter valued at approximately $27,000. Frazier Financial Advisors LLC boosted its stake in Caterpillar by 220.0% in the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 33 shares in the last quarter. Cornerstone Financial Management LLC purchased a new stake in Caterpillar during the 4th quarter worth approximately $32,000. Finally, Monetary Solutions Ltd acquired a new position in Caterpillar during the 4th quarter valued at approximately $35,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Caterpillar

In other news, insider Anthony D. Fassino sold 16,283 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the completion of the sale, the insider owned 46,041 shares of the company’s stock, valued at $42,210,388.80. The trade was a 26.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lange Bob De sold 24,222 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total transaction of $22,354,968.24. Following the completion of the transaction, the insider directly owned 86,029 shares in the company, valued at $79,397,884.68. This represents a 21.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 95,773 shares of company stock valued at $87,642,635. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 0.1%

Caterpillar stock opened at $889.23 on Monday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81. The stock has a market capitalization of $409.57 billion, a PE ratio of 44.26, a price-to-earnings-growth ratio of 1.74 and a beta of 1.57. The business has a 50 day simple moving average of $928.88 and a 200-day simple moving average of $805.44. Caterpillar Inc. has a 12 month low of $405.46 and a 12 month high of $1,073.46.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The firm had revenue of $17.41 billion for the quarter, compared to analyst estimates of $16.53 billion. During the same quarter last year, the firm posted $4.25 EPS. The business’s revenue was up 22.2% on a year-over-year basis. On average, analysts anticipate that Caterpillar Inc. will post 24.87 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.7%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.51. The ex-dividend date is Monday, July 20th. Caterpillar’s dividend payout ratio (DPR) is 32.45%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Citigroup upped their target price on Caterpillar from $1,020.00 to $1,100.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Morgan Stanley set a $915.00 price objective on Caterpillar and gave the company an “equal weight” rating in a report on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Caterpillar in a report on Friday, May 8th. Oppenheimer increased their price target on shares of Caterpillar from $980.00 to $1,105.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Barclays lifted their price objective on shares of Caterpillar from $700.00 to $800.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Fifteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $980.57.

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.