McGuire Investment Group LLC Purchases 424 Shares of Caterpillar Inc. $CAT

McGuire Investment Group LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,521 shares of the industrial products company’s stock after buying an additional 424 shares during the period. McGuire Investment Group LLC’s holdings in Caterpillar were worth $9,131,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Warren Street Wealth Advisors LLC bought a new stake in shares of Caterpillar during the 2nd quarter worth $225,000. Vicus Capital boosted its holdings in shares of Caterpillar by 18.2% during the 2nd quarter. Vicus Capital now owns 1,836 shares of the industrial products company’s stock worth $713,000 after buying an additional 283 shares during the period. Naples Global Advisors LLC boosted its holdings in shares of Caterpillar by 0.3% during the 2nd quarter. Naples Global Advisors LLC now owns 10,290 shares of the industrial products company’s stock worth $3,995,000 after buying an additional 33 shares during the period. Pure Financial Advisors LLC boosted its holdings in shares of Caterpillar by 66.7% during the 2nd quarter. Pure Financial Advisors LLC now owns 18,650 shares of the industrial products company’s stock worth $7,240,000 after buying an additional 7,463 shares during the period. Finally, Woodward Diversified Capital LLC raised its stake in Caterpillar by 46.9% during the 2nd quarter. Woodward Diversified Capital LLC now owns 4,067 shares of the industrial products company’s stock valued at $1,579,000 after purchasing an additional 1,298 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on CAT. Truist Financial upped their target price on shares of Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Citigroup reiterated a “buy” rating on shares of Caterpillar in a research note on Tuesday, September 23rd. Robert W. Baird upped their target price on shares of Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. DA Davidson upped their target price on shares of Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Caterpillar in a research note on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and a consensus price target of $466.53.

Caterpillar Trading Up 0.8%

Shares of CAT stock opened at $480.99 on Thursday. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $485.34. The stock has a market cap of $225.33 billion, a price-to-earnings ratio of 24.47, a P/E/G ratio of 2.90 and a beta of 1.46. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The firm has a fifty day moving average of $434.48 and a 200-day moving average of $376.35.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) 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 business had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the prior year, the company posted $5.99 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,819 shares of company stock worth $16,885,492 in the last quarter. 0.33% of the stock is owned by corporate insiders.

Caterpillar Company 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.