Horizons Wealth Management Invests $52,000 in Caterpillar Inc. (NYSE:CAT)

Horizons Wealth Management acquired a new position in Caterpillar Inc. (NYSE:CAT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 211 shares of the industrial products company’s stock, valued at approximately $52,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Herold Advisors Inc. raised its position in Caterpillar by 4.1% in the 1st quarter. Herold Advisors Inc. now owns 1,304 shares of the industrial products company’s stock worth $298,000 after purchasing an additional 51 shares during the period. BerganKDV Wealth Management LLC lifted its position in shares of Caterpillar by 29.3% during the first quarter. BerganKDV Wealth Management LLC now owns 618 shares of the industrial products company’s stock worth $142,000 after purchasing an additional 140 shares during the last quarter. abrdn plc lifted its position in shares of Caterpillar by 11.3% during the first quarter. abrdn plc now owns 348,514 shares of the industrial products company’s stock worth $79,754,000 after purchasing an additional 35,488 shares during the last quarter. Delta Financial Group Inc. lifted its position in shares of Caterpillar by 106.8% during the first quarter. Delta Financial Group Inc. now owns 3,147 shares of the industrial products company’s stock worth $720,000 after purchasing an additional 1,625 shares during the last quarter. Finally, Everhart Financial Group Inc. lifted its position in shares of Caterpillar by 34.8% during the first quarter. Everhart Financial Group Inc. now owns 1,393 shares of the industrial products company’s stock worth $319,000 after purchasing an additional 360 shares during the last quarter. 69.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CAT. Barclays lifted their target price on Caterpillar from $225.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 2nd. Wells Fargo & Company boosted their price target on Caterpillar from $240.00 to $285.00 and gave the company an “equal weight” rating in a report on Wednesday, August 2nd. Bank of America boosted their price target on Caterpillar from $283.00 to $323.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. TD Cowen increased their target price on shares of Caterpillar from $287.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Finally, StockNews.com cut shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $267.00.

Caterpillar Trading Up 1.8 %

Caterpillar stock opened at $281.01 on Thursday. The stock has a 50-day moving average of $271.46 and a two-hundred day moving average of $241.77. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.83 and a current ratio of 1.33. Caterpillar Inc. has a one year low of $160.60 and a one year high of $293.88. The stock has a market cap of $143.34 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $5.55 EPS for the quarter, beating analysts’ consensus estimates of $4.57 by $0.98. Caterpillar had a return on equity of 55.93% and a net margin of 12.91%. The company had revenue of $17.30 billion during the quarter, compared to analysts’ expectations of $16.46 billion. During the same period last year, the business posted $3.18 earnings per share. The firm’s revenue was up 21.4% compared to the same quarter last year. On average, research analysts anticipate that Caterpillar Inc. will post 19.82 EPS for the current fiscal year.

Insider Transactions at Caterpillar

In other news, insider Lange Bob De sold 20,000 shares of Caterpillar stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $275.00, for a total transaction of $5,500,000.00. Following the completion of the sale, the insider now directly owns 53,671 shares in the company, valued at $14,759,525. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Lange Bob De sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $275.00, for a total value of $5,500,000.00. Following the sale, the insider now owns 53,671 shares in the company, valued at $14,759,525. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cheryl H. Johnson sold 6,415 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $260.00, for a total value of $1,667,900.00. Following the completion of the sale, the insider now owns 16,362 shares in the company, valued at approximately $4,254,120. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,918 shares of company stock worth $15,299,870. Company insiders own 0.33% of the company’s stock.

About Caterpillar

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.