Forefront Wealth Management Inc. Buys Shares of 6,980 Caterpillar Inc. (NYSE:CAT)

Forefront Wealth Management Inc. purchased a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,980 shares of the industrial products company's stock, valued at approximately $2,532,000. Caterpillar comprises 2.3% of Forefront Wealth Management Inc.'s portfolio, making the stock its 15th biggest position.

Several other large investors also recently bought and sold shares of the business. Flagship Wealth Advisors LLC purchased a new position in Caterpillar during the fourth quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in Caterpillar in the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC acquired a new stake in Caterpillar during the fourth quarter worth $27,000. Noble Wealth Management PBC purchased a new stake in Caterpillar in the fourth quarter valued at $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CAT. Wedbush raised Caterpillar to an "outperform" rating in a research report on Monday, February 3rd. Bank of America reduced their price target on shares of Caterpillar from $452.00 to $414.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Citigroup increased their price objective on shares of Caterpillar from $420.00 to $430.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Jefferies Financial Group boosted their target price on Caterpillar from $455.00 to $475.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Finally, Evercore ISI raised their price target on Caterpillar from $365.00 to $375.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Two 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 MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $383.80.

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Caterpillar Stock Performance

Shares of CAT traded up $1.92 during mid-day trading on Tuesday, hitting $343.59. 553,939 shares of the company's stock were exchanged, compared to its average volume of 2,538,024. The firm has a market capitalization of $164.21 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two week high of $418.50. The business's 50 day moving average is $358.19 and its two-hundred day moving average is $372.36. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT - Get Free Report) last announced its earnings results 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 return on equity of 58.18% and a net margin of 16.65%. On average, equities analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Transactions at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares of the company's stock, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was 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 approximately $2,225,742.50. This trade represents a 27.87 % 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.

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.