BlackDiamond Wealth Management LLC Acquires New Position in Caterpillar Inc. (NYSE:CAT)

BlackDiamond Wealth Management LLC acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 553 shares of the industrial products company’s stock, valued at approximately $200,000.

Several other institutional investors also recently bought and sold shares of CAT. Principal Financial Group Inc. grew its position in Caterpillar by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company’s stock valued at $285,382,000 after purchasing an additional 5,371 shares during the last quarter. Claro Advisors LLC lifted its stake in Caterpillar by 8.3% during the 3rd quarter. Claro Advisors LLC now owns 1,754 shares of the industrial products company’s stock valued at $686,000 after acquiring an additional 135 shares during the period. Aljian Capital Management LLC lifted its stake in Caterpillar by 168.7% during the 3rd quarter. Aljian Capital Management LLC now owns 5,911 shares of the industrial products company’s stock valued at $2,312,000 after acquiring an additional 3,711 shares during the period. Richard C. Young & CO. LTD. lifted its stake in Caterpillar by 0.4% during the 3rd quarter. Richard C. Young & CO. LTD. now owns 56,791 shares of the industrial products company’s stock valued at $22,212,000 after acquiring an additional 232 shares during the period. Finally, Braun Stacey Associates Inc. lifted its stake in Caterpillar by 2,277.1% during the 3rd quarter. Braun Stacey Associates Inc. now owns 33,874 shares of the industrial products company’s stock valued at $13,249,000 after acquiring an additional 32,449 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the sale, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 4th. The stock was acquired at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the transaction, the director now directly owns 3,053 shares of the company’s stock, valued at $1,116,085.21. The trade was a 3.39 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CAT. DA Davidson upped their target price on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Jefferies Financial Group increased their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Truist Financial lowered their price objective on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Morgan Stanley lowered their price objective on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Finally, Bank of America lowered their price objective on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $383.80.

Caterpillar Trading Up 0.9 %

Caterpillar stock opened at $342.66 on Tuesday. The stock has a market cap of $163.77 billion, a P/E ratio of 15.53, a PEG ratio of 1.87 and a beta of 1.15. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. The firm’s 50 day moving average price is $360.39 and its 200-day moving average price is $372.60.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. On average, equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

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.