Iron Gate Global Advisors LLC Grows Stake in Caterpillar Inc. $CAT

Iron Gate Global Advisors LLC raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 3.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,488 shares of the industrial products company’s stock after buying an additional 150 shares during the quarter. Iron Gate Global Advisors LLC’s holdings in Caterpillar were worth $1,480,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Rollins Financial Advisors LLC increased its position in Caterpillar by 3.4% during the first quarter. Rollins Financial Advisors LLC now owns 7,440 shares of the industrial products company’s stock worth $2,454,000 after buying an additional 242 shares in the last quarter. Indiana Trust & Investment Management Co increased its position in Caterpillar by 2.1% during the first quarter. Indiana Trust & Investment Management Co now owns 7,454 shares of the industrial products company’s stock worth $2,458,000 after buying an additional 155 shares in the last quarter. MBL Wealth LLC increased its position in Caterpillar by 4.9% during the first quarter. MBL Wealth LLC now owns 1,979 shares of the industrial products company’s stock worth $653,000 after buying an additional 92 shares in the last quarter. Acadian Asset Management LLC increased its position in Caterpillar by 218.8% during the first quarter. Acadian Asset Management LLC now owns 41,743 shares of the industrial products company’s stock worth $13,763,000 after buying an additional 28,650 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Caterpillar by 4.8% during the first quarter. Geneos Wealth Management Inc. now owns 15,684 shares of the industrial products company’s stock worth $5,172,000 after buying an additional 712 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. The trade was a 3.44% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,653 shares of company stock worth $8,943,642. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on CAT shares. Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target for the company in a research report on Wednesday, July 9th. Oppenheimer dropped their price target on Caterpillar from $493.00 to $480.00 and set an “outperform” rating for the company in a research report on Friday, August 29th. DA Davidson raised their price objective on Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Bank of America raised their price objective on Caterpillar from $460.00 to $495.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective on the stock in a report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Caterpillar has an average rating of “Moderate Buy” and a consensus price target of $457.20.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $422.77 on Thursday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15. The stock has a market capitalization of $198.06 billion, a P/E ratio of 21.50, a PEG ratio of 2.54 and a beta of 1.41. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The business’s fifty day moving average price is $418.76 and its 200 day moving average price is $363.91.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the previous year, the business posted $5.99 EPS. Caterpillar’s revenue was down .7% compared to the same quarter last year. As a group, research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

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.