Tower View Wealth Management LLC Makes New Investment in Caterpillar Inc. $CAT

Tower View Wealth Management LLC bought a new position in Caterpillar Inc. (NYSE:CAT) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 265 shares of the industrial products company’s stock, valued at approximately $103,000.

Other large investors have also bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Caterpillar by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock valued at $1,386,626,000 after purchasing an additional 264,054 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Caterpillar by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock valued at $1,089,798,000 after purchasing an additional 15,347 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Caterpillar by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after purchasing an additional 268,300 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Caterpillar by 5.0% during the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock valued at $1,036,211,000 after purchasing an additional 150,533 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Caterpillar by 0.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,416,464 shares of the industrial products company’s stock valued at $467,150,000 after purchasing an additional 5,559 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

CAT opened at $490.88 on Friday. The firm has a market cap of $229.97 billion, a P/E ratio of 24.97, a PEG ratio of 2.92 and a beta of 1.46. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $495.98. The company has a 50 day simple moving average of $435.71 and a two-hundred day simple moving average of $377.37. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results 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). The firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.99 earnings per share. Equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Melius raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price for the company in a research report on Wednesday, July 9th. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. Evercore ISI upgraded shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price for the company in a research report on Tuesday, August 19th. Finally, Truist Financial boosted their target price on shares of Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $466.53.

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.