604 Shares in Caterpillar Inc. (NYSE:CAT) Bought by Great Waters Wealth Management

Great Waters Wealth Management acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 604 shares of the industrial products company’s stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAT. Exencial Wealth Advisors LLC raised its holdings in shares of Caterpillar by 14.1% in the fourth quarter. Exencial Wealth Advisors LLC now owns 5,645 shares of the industrial products company’s stock valued at $1,669,000 after buying an additional 699 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Caterpillar by 2.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 680,074 shares of the industrial products company’s stock valued at $201,077,000 after buying an additional 15,766 shares during the last quarter. Morningstar Investment Services LLC raised its holdings in shares of Caterpillar by 83.1% in the fourth quarter. Morningstar Investment Services LLC now owns 2,430 shares of the industrial products company’s stock valued at $721,000 after buying an additional 1,103 shares during the last quarter. AdvisorShares Investments LLC raised its holdings in shares of Caterpillar by 23.3% in the fourth quarter. AdvisorShares Investments LLC now owns 1,680 shares of the industrial products company’s stock valued at $497,000 after buying an additional 317 shares during the last quarter. Finally, Prudential PLC raised its holdings in shares of Caterpillar by 2.7% in the fourth quarter. Prudential PLC now owns 20,878 shares of the industrial products company’s stock valued at $6,173,000 after buying an additional 552 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at $962,272.78. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CAT shares. UBS Group boosted their price objective on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Barclays increased their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Citigroup initiated coverage on Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target for the company. Finally, Bank of America increased their price objective on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Two 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $339.94.

Caterpillar Price Performance

NYSE:CAT traded up $6.00 during mid-day trading on Friday, reaching $397.09. The stock had a trading volume of 1,675,430 shares, compared to its average volume of 2,668,227. The stock has a 50-day simple moving average of $351.52 and a two-hundred day simple moving average of $348.09. The stock has a market capitalization of $194.20 billion, a PE ratio of 17.93, a P/E/G ratio of 1.73 and a beta of 1.10. 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 Inc. has a 12 month low of $223.76 and a 12 month high of $397.46.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The business 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 firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted $5.55 earnings per share. On average, equities analysts anticipate that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 12.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are 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.