Gateway Advisory LLC Has $5.94 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Gateway Advisory LLC grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,825 shares of the industrial products company’s stock after purchasing an additional 233 shares during the period. Caterpillar makes up 1.0% of Gateway Advisory LLC’s investment portfolio, making the stock its 26th biggest holding. Gateway Advisory LLC’s holdings in Caterpillar were worth $5,938,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Southland Equity Partners LLC lifted its stake in shares of Caterpillar by 4.0% in the first quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock valued at $287,000 after buying an additional 30 shares in the last quarter. Davis Investment Partners LLC boosted its stake in Caterpillar by 2.1% during the 1st quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock valued at $541,000 after purchasing an additional 30 shares during the last quarter. Hilltop National Bank increased its holdings in Caterpillar by 1.2% during the 2nd quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock worth $878,000 after purchasing an additional 31 shares in the last quarter. Exchange Capital Management Inc. lifted its holdings in shares of Caterpillar by 3.3% in the first quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company’s stock valued at $372,000 after purchasing an additional 32 shares in the last quarter. Finally, D Orazio & Associates Inc. boosted its position in shares of Caterpillar by 4.0% during the first quarter. D Orazio & Associates Inc. now owns 835 shares of the industrial products company’s stock valued at $306,000 after buying an additional 32 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 7,668 shares of company stock worth $2,665,760. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Evercore ISI dropped their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Citigroup assumed coverage on shares of Caterpillar in a research report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective for the company. Truist Financial reissued a “buy” rating and set a $399.00 target price (up previously from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, UBS Group lifted their price target on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $336.31.

Caterpillar Trading Up 0.7 %

Shares of Caterpillar stock opened at $371.31 on Tuesday. The company’s 50-day moving average price is $344.19 and its 200-day moving average price is $345.12. The company has a market cap of $181.59 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 1.56 and a beta of 1.10. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $382.01. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter last year, the business posted $5.55 earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year. On average, equities analysts expect that Caterpillar Inc. will post 21.88 earnings per share for the current fiscal year.

Caterpillar announced that its Board of Directors has authorized a share buyback program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock repurchase programs are often 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.