King Wealth Management Group Has $1.20 Million Holdings in Caterpillar Inc. (NYSE:CAT)

King Wealth Management Group boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,318 shares of the industrial products company’s stock after acquiring an additional 86 shares during the period. King Wealth Management Group’s holdings in Caterpillar were worth $1,204,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Halbert Hargrove Global Advisors LLC acquired a new position in Caterpillar in the 4th quarter valued at $27,000. Noble Wealth Management PBC bought a new position in shares of Caterpillar in the fourth quarter valued at approximately $31,000. Retirement Wealth Solutions LLC acquired a new position in shares of Caterpillar during the fourth quarter worth approximately $34,000. Albion Financial Group UT grew its position in shares of Caterpillar by 334.8% during the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after buying an additional 77 shares during the period. Finally, Whipplewood Advisors LLC acquired a new position in Caterpillar in the fourth quarter valued at about $36,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $333.26 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. The firm has a fifty day moving average price of $361.27 and a 200-day moving average price of $372.42. The stock has a market cap of $159.28 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CAT. Wedbush raised shares of Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Bank of America cut their target price on shares of 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 upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Truist Financial dropped their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $383.80.

Insider Buying and Selling

In other news, insider Jason Kaiser sold 2,425 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the sale, the insider now directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. This represents a 27.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

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.