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

BlackDiamond Wealth Management LLC acquired a new stake in Caterpillar Inc. (NYSE:CAT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 553 shares of the industrial products company’s stock, valued at approximately $200,000.

A number of other large investors have also recently made changes to their positions in the business. Principal Financial Group Inc. lifted its position in shares of Caterpillar by 0.7% during the third quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company’s stock valued at $285,382,000 after purchasing an additional 5,371 shares in the last quarter. Claro Advisors LLC lifted its position in shares of Caterpillar by 8.3% during the third quarter. Claro Advisors LLC now owns 1,754 shares of the industrial products company’s stock valued at $686,000 after purchasing an additional 135 shares in the last quarter. Aljian Capital Management LLC lifted its position in shares of Caterpillar by 168.7% during the third quarter. Aljian Capital Management LLC now owns 5,911 shares of the industrial products company’s stock valued at $2,312,000 after purchasing an additional 3,711 shares in the last quarter. Richard C. Young & CO. LTD. lifted its position in shares of Caterpillar by 0.4% during the third quarter. Richard C. Young & CO. LTD. now owns 56,791 shares of the industrial products company’s stock valued at $22,212,000 after purchasing an additional 232 shares in the last quarter. Finally, Braun Stacey Associates Inc. lifted its position in shares of Caterpillar by 2,277.1% during the third quarter. Braun Stacey Associates Inc. now owns 33,874 shares of the industrial products company’s stock valued at $13,249,000 after purchasing an additional 32,449 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Bank of America lowered their price objective on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Wedbush raised shares of Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Evercore ISI lifted their price objective on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Finally, UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $383.80.

Caterpillar Trading Up 0.9 %

NYSE:CAT opened at $342.66 on Tuesday. The company has a fifty day moving average of $360.39 and a 200 day moving average of $372.60. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $163.77 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.87 and a beta of 1.15.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating analysts’ consensus estimates 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 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’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 completion of the sale, the chief financial officer now directly owns 45,182 shares in the company, valued at $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.