Guardian Wealth Management Inc. Purchases 244 Shares of Caterpillar Inc. (NYSE:CAT)

Guardian Wealth Management Inc. raised its position in Caterpillar Inc. (NYSE:CAT) by 11.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,402 shares of the industrial products company’s stock after acquiring an additional 244 shares during the quarter. Guardian Wealth Management Inc.’s holdings in Caterpillar were worth $800,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Caterpillar by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock worth $14,296,641,000 after buying an additional 129,216 shares during the period. Capital World Investors raised its stake in shares of Caterpillar by 0.3% in the fourth quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock worth $8,583,372,000 after buying an additional 96,479 shares during the period. Fisher Asset Management LLC raised its stake in shares of Caterpillar by 2.2% in the fourth quarter. Fisher Asset Management LLC now owns 8,139,040 shares of the industrial products company’s stock worth $2,406,471,000 after buying an additional 173,108 shares during the period. Norges Bank bought a new position in shares of Caterpillar in the fourth quarter worth about $1,660,560,000. Finally, Capital Research Global Investors raised its stake in shares of Caterpillar by 6.3% in the first quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock worth $740,225,000 after buying an additional 119,326 shares during the period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

NYSE:CAT opened at $345.31 on Friday. The firm has a market capitalization of $167.44 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 1.56 and a beta of 1.10. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The business has a 50 day simple moving average of $340.70 and a 200-day simple moving average of $343.83. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.46. The business had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the company earned $5.55 EPS. Equities analysts forecast that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar announced that its Board of Directors has authorized a share buyback plan on Wednesday, June 12th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Evercore ISI decreased their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Bank of America cut their target price on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Citigroup initiated coverage on Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price for the company. Barclays increased their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Raymond James initiated coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating for the company. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Caterpillar has a consensus rating of “Hold” and an average target price of $336.31.

Insider Activity

In related news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The disclosure for this sale can be found here. Insiders sold 7,668 shares of company stock valued at $2,665,760 in the last ninety days. Insiders own 0.33% of the company’s stock.

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.