IMG Wealth Management Inc. Makes New Investment in Caterpillar Inc. (NYSE:CAT)

IMG Wealth Management Inc. bought a new position in Caterpillar Inc. (NYSE:CAT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 478 shares of the industrial products company’s stock, valued at approximately $173,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Caterpillar in the 4th quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new stake in shares of Caterpillar in the 4th quarter worth approximately $31,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Caterpillar in the 4th quarter worth approximately $34,000. Albion Financial Group UT lifted its stake 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 worth $36,000 after acquiring an additional 77 shares during the period. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Caterpillar in the 4th quarter worth approximately $36,000. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In other news, insider Jason Kaiser sold 2,425 shares of the 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 transaction, the insider now owns 6,275 shares in the company, valued at $2,225,742.50. This represents a 27.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Wedbush raised shares of Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Morgan Stanley cut their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Citigroup increased their target price on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Evercore ISI increased their target price on shares of Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. 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 data from MarketBeat, Caterpillar presently has a consensus rating of “Hold” and an average target price of $383.80.

Caterpillar Stock Up 2.1 %

Caterpillar stock opened at $340.46 on Monday. The firm has a market cap of $162.72 billion, a PE ratio of 15.43, a P/E/G ratio of 1.87 and a beta of 1.15. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The firm’s 50 day moving average price is $360.81 and its two-hundred day moving average price is $372.66. Caterpillar Inc. has a twelve month low of $307.05 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings data 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%. On average, research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Company 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.