Morey & Quinn Wealth Partners LLC Makes New $387,000 Investment in Caterpillar Inc. (NYSE:CAT)

Morey & Quinn Wealth Partners LLC acquired a new position in shares of Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,067 shares of the industrial products company’s stock, valued at approximately $387,000.

Other institutional investors have also recently modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in Caterpillar in the 4th quarter valued at about $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Caterpillar in the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC purchased a new position in shares of Caterpillar during the fourth quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Caterpillar in the 4th quarter worth approximately $34,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the sale, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction on Tuesday, February 4th. The shares were purchased at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the acquisition, the director now owns 3,053 shares in the company, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Trading Up 0.3 %

NYSE CAT opened at $342.65 on Wednesday. The company has a market capitalization of $163.76 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 1-year low of $307.05 and a 1-year high of $418.50. The firm’s fifty day simple moving average is $357.63 and its 200-day simple moving average is $372.46.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Raymond James upgraded Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. DA Davidson increased their price objective on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Evercore ISI upped their price target on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Finally, Wedbush upgraded shares of Caterpillar to an “outperform” rating in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $383.80.

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.