New Wave Wealth Advisors LLC Makes New Investment in Caterpillar Inc. (NYSE:CAT)

New Wave Wealth Advisors LLC purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,215 shares of the industrial products company’s stock, valued at approximately $405,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CAT. Acadian Asset Management LLC boosted its stake in shares of Caterpillar by 17.2% in the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after purchasing an additional 1,327 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Caterpillar during the 1st quarter valued at $926,000. Natixis Advisors LLC boosted its position in shares of Caterpillar by 3.5% in the 2nd quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock worth $92,688,000 after purchasing an additional 9,321 shares during the last quarter. Bailard Inc. lifted its stake in Caterpillar by 3.1% in the second quarter. Bailard Inc. now owns 13,435 shares of the industrial products company’s stock valued at $4,475,000 after buying an additional 398 shares during the period. Finally, M&G Plc bought a new stake in shares of Caterpillar in the 1st quarter valued at about $15,009,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CAT shares. Barclays lifted their price target on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Raymond James initiated coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating for the company. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Bank of America boosted their price objective on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday. Finally, Citigroup began coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $339.94.

Insider Activity

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now owns 18,515 shares in the company, valued at approximately $6,480,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the completion of the transaction, the insider now owns 18,515 shares of the company’s stock, valued at $6,480,250. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is owned by company insiders.

Caterpillar Trading Down 0.0 %

CAT stock opened at $390.91 on Tuesday. The stock has a market cap of $191.18 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. The company has a fifty day moving average price of $347.54 and a two-hundred day moving average price of $346.82. Caterpillar Inc. has a one year low of $223.76 and a one year high of $397.22. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.46. The firm had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $5.55 EPS. Equities analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar announced that its Board of Directors has authorized a share buyback plan on Wednesday, June 12th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.