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

Forefront Wealth Management Inc. purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,980 shares of the industrial products company’s stock, valued at approximately $2,532,000. Caterpillar makes up about 2.3% of Forefront Wealth Management Inc.’s holdings, making the stock its 15th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC bought a new stake in Caterpillar during the 4th quarter worth about $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in Caterpillar during the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC bought a new stake in Caterpillar during the 4th quarter worth about $27,000. Noble Wealth Management PBC bought a new stake in shares of Caterpillar in the 4th quarter valued at about $31,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Caterpillar in the 4th quarter valued at about $34,000. 70.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Bank of America dropped their target price on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Jefferies Financial Group upped their target price on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and upped their price target for the company from $355.00 to $385.00 in a research note on Monday, February 3rd. Truist Financial decreased their price target on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Evercore ISI upped their price target 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 investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $383.80.

Caterpillar Stock Performance

NYSE CAT opened at $335.49 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $160.34 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 1.87 and a beta of 1.15. The firm’s 50 day simple moving average is $358.61 and its 200 day simple moving average is $371.83. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) 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%. As a group, research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were 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 directly owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jason Kaiser sold 2,425 shares of the firm’s 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 transaction, the insider now directly owns 6,275 shares in the company, valued at $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

About Caterpillar

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.