Wayfinding Financial LLC Buys New Shares in Caterpillar Inc. (NYSE:CAT)

Wayfinding Financial LLC bought a new stake in Caterpillar Inc. (NYSE:CAT) in the fourth quarter, HoldingsChannel reports. The fund bought 2,318 shares of the industrial products company’s stock, valued at approximately $840,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Flagship Wealth Advisors LLC bought a new position in shares of Caterpillar in the 4th quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Caterpillar in the 4th quarter valued at about $27,000. Noble Wealth Management PBC bought a new position in shares of Caterpillar in the 4th quarter valued at about $31,000. Retirement Wealth Solutions LLC bought a new position in shares of Caterpillar in the 4th quarter valued at about $34,000. Finally, Albion Financial Group UT grew its position in shares of Caterpillar by 334.8% in the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 77 shares during the period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

CAT stock opened at $336.09 on Friday. The company has a 50 day simple moving average of $358.92 and a 200 day simple moving average of $371.98. The stock has a market cap of $160.63 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

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

Insiders Place Their Bets

In other news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction dated Tuesday, February 4th. The shares were bought at an average cost of $365.57 per share, with a total value of $36,557.00. Following the purchase, the director now owns 3,053 shares in the company, valued at $1,116,085.21. This trade represents a 3.39 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the sale, the insider now directly owns 6,275 shares in the company, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on CAT shares. Morgan Stanley decreased their price objective on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Truist Financial reduced their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Evercore ISI lifted their target price on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Jefferies Financial Group lifted their target price on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Two equities research 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 an average 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.