Gateway Wealth Partners LLC Boosts Stock Position in Caterpillar Inc. (NYSE:CAT)

Gateway Wealth Partners LLC lifted its position in Caterpillar Inc. (NYSE:CAT) by 2.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,668 shares of the industrial products company’s stock after purchasing an additional 84 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Caterpillar were worth $1,222,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of CAT. Richardson Financial Services Inc. purchased a new stake in shares of Caterpillar in the 4th quarter valued at $27,000. Thompson Investment Management Inc. acquired a new position in Caterpillar during the first quarter valued at $27,000. Bbjs Financial Advisors LLC purchased a new stake in Caterpillar in the second quarter valued at $28,000. Financial Connections Group Inc. purchased a new position in shares of Caterpillar during the 2nd quarter valued at about $28,000. Finally, Fairman Group LLC acquired a new position in shares of Caterpillar in the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 0.0 %

Shares of CAT stock opened at $391.08 on Monday. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $397.22. The firm has a market capitalization of $191.26 billion, a P/E ratio of 17.66, a PEG ratio of 1.73 and a beta of 1.10. The stock’s fifty day moving average is $346.68 and its two-hundred day moving average is $346.48. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28.

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

Caterpillar declared that its board has authorized a share repurchase program on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

CAT has been the topic of several analyst reports. Truist Financial reaffirmed a “buy” rating and set a $399.00 target price (up from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Raymond James assumed coverage on shares of Caterpillar in a report on Friday, June 28th. They set a “market perform” rating for the company. Bank of America lowered their price target on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Barclays upped their price objective 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. Finally, StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $336.31.

Insider Activity

In related news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gerald Johnson acquired 100 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The disclosure for this purchase can be found here. Insiders sold 7,668 shares of company stock worth $2,665,760 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Profile

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.