Fairway Wealth LLC Takes Position in Caterpillar Inc. (NYSE:CAT)

Fairway Wealth LLC acquired a new position in Caterpillar Inc. (NYSE:CAT) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 342 shares of the industrial products company’s stock, valued at approximately $124,000.

A number of other institutional investors have also recently bought and sold shares of CAT. Halbert Hargrove Global Advisors LLC purchased a new position in Caterpillar in the fourth quarter valued at about $27,000. Noble Wealth Management PBC acquired a new stake in shares of Caterpillar during the 4th quarter valued at about $31,000. Retirement Wealth Solutions LLC bought a new stake in shares of Caterpillar in the 4th quarter valued at approximately $34,000. Capital Performance Advisors LLP bought a new position in Caterpillar during the third quarter valued at approximately $36,000. Finally, Albion Financial Group UT lifted its stake in Caterpillar by 334.8% in the fourth 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 last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Down 1.5 %

Shares of CAT stock opened at $344.90 on Tuesday. The stock has a market cap of $164.84 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The stock has a fifty day moving average price of $362.75 and a 200 day moving average price of $373.00. Caterpillar Inc. has a one year low of $307.05 and a one year high of $418.50.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating 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%. Analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on CAT. Truist Financial cut their price target on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Bank of America decreased their price target on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. Morgan Stanley decreased their target price on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Finally, Wedbush raised shares of Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $383.80.

Insider Activity

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

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.