Future Financial Wealth Managment LLC Purchases New Stake in Caterpillar Inc. (NYSE:CAT)

Future Financial Wealth Managment LLC purchased a new position in Caterpillar Inc. (NYSE:CAT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 319 shares of the industrial products company’s stock, valued at approximately $125,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Thompson Investment Management Inc. purchased a new stake in Caterpillar in the 1st quarter worth approximately $27,000. Fairman Group LLC acquired a new stake in shares of Caterpillar during the first quarter worth about $29,000. Bbjs Financial Advisors LLC acquired a new position in Caterpillar in the second quarter valued at approximately $28,000. Financial Connections Group Inc. purchased a new stake in shares of Caterpillar in the second quarter valued at approximately $28,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Caterpillar during the fourth quarter worth approximately $27,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Trading Down 2.6 %

Shares of NYSE:CAT opened at $387.90 on Wednesday. The firm has a fifty day moving average price of $352.59 and a 200 day moving average price of $348.22. The stock has a market capitalization of $189.70 billion, a PE ratio of 17.51, a P/E/G ratio of 1.73 and a beta of 1.10. 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 Inc. has a 1 year low of $223.76 and a 1 year high of $401.17.

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

Caterpillar declared that its Board of Directors has initiated a share buyback program 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 programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Truist Financial restated a “buy” rating and set a $399.00 price target (up previously from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. UBS Group boosted their price objective on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Raymond James began coverage on Caterpillar in a report on Friday, June 28th. They set a “market perform” rating for the company. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Evercore ISI cut their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $339.94.

Insiders Place Their Bets

In other news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The stock was bought 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 trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 7,668 shares of company stock worth $2,665,760 over the last quarter. 0.33% of the stock is currently owned by company insiders.

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.