Whalen Wealth Management Inc. Invests $294,000 in Caterpillar Inc. $CAT

Whalen Wealth Management Inc. bought a new position in Caterpillar Inc. (NYSE:CAT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 758 shares of the industrial products company’s stock, valued at approximately $294,000.

Other hedge funds have also modified their holdings of the company. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Caterpillar in the 2nd quarter worth $28,000. Compass Financial Services Inc grew its holdings in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar in the 2nd quarter worth $32,000. Redmont Wealth Advisors LLC acquired a new position in shares of Caterpillar in the 1st quarter worth $33,000. Finally, Harbor Asset Planning Inc. acquired a new position in shares of Caterpillar in the 2nd quarter worth $34,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAT has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Caterpillar from $505.00 to $650.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Bank of America lifted their price target on Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Truist Financial lifted their price target on Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Royal Bank Of Canada assumed coverage on Caterpillar in a report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price target on the stock. Finally, UBS Group lifted their price target on Caterpillar from $450.00 to $506.00 and gave the company a “neutral” rating in a report on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $518.19.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider owned 8,632 shares in the company, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 55,985 shares of company stock worth $25,559,300 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $586.77 on Thursday. The business’s 50-day moving average price is $472.25 and its two-hundred day moving average price is $405.20. 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 Inc. has a one year low of $267.30 and a one year high of $596.21. The company has a market capitalization of $274.89 billion, a P/E ratio of 29.85, a price-to-earnings-growth ratio of 2.99 and a beta of 1.46.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. During the same quarter in the previous year, the company posted $5.17 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. Analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.0%. Caterpillar’s payout ratio is 30.72%.

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.