DKM Wealth Management Inc. Acquires New Position in Caterpillar Inc. $CAT

DKM Wealth Management Inc. purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 585 shares of the industrial products company’s stock, valued at approximately $227,000.

Other institutional investors have also recently made changes to their positions in the company. Compass Financial Services Inc boosted its position in shares of Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after buying an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in shares of Caterpillar during the 2nd quarter valued at about $32,000. Curat Global LLC purchased a new stake in shares of Caterpillar during the 1st quarter valued at about $33,000. Redmont Wealth Advisors LLC purchased a new stake in Caterpillar in the first quarter worth approximately $33,000. Finally, Mattson Financial Services LLC purchased a new stake in Caterpillar in the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 0.2%

CAT stock opened at $470.50 on Thursday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $485.34. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The stock has a market cap of $220.42 billion, a P/E ratio of 23.93, a PEG ratio of 2.86 and a beta of 1.41. The business’s 50-day moving average price is $429.02 and its 200-day moving average price is $371.77.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same period in the previous year, the firm earned $5.99 earnings per share. The firm’s quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Activity at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman directly owned 482,505 shares in the company, valued at $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CAT has been the topic of several research reports. Oppenheimer dropped their target price on shares of Caterpillar from $493.00 to $480.00 and set an “outperform” rating on the stock in a report on Friday, August 29th. Jefferies Financial Group restated a “buy” rating and issued a $500.00 price target on shares of Caterpillar in a research note on Friday, August 29th. Robert W. Baird raised their target price on Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Citigroup reissued a “buy” rating on shares of Caterpillar in a research report on Tuesday. Finally, Melius raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and an average price target of $464.33.

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.