IMG Wealth Management Inc. Raises Stake in Caterpillar Inc. $CAT

IMG Wealth Management Inc. grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 5.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 506 shares of the industrial products company’s stock after purchasing an additional 28 shares during the period. IMG Wealth Management Inc.’s holdings in Caterpillar were worth $196,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Trivium Point Advisory LLC boosted its position in shares of Caterpillar by 132.9% during the 2nd quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock worth $748,000 after purchasing an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Caterpillar by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock worth $26,037,000 after buying an additional 7,125 shares in the last quarter. Palmer Knight Co purchased a new stake in shares of Caterpillar in the 2nd quarter worth about $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Caterpillar by 11.2% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock worth $5,557,000 after buying an additional 1,440 shares in the last quarter. Finally, Ransom Advisory Ltd purchased a new stake in shares of Caterpillar in the 1st quarter worth about $427,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jason Kaiser sold 2,161 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,985 shares of company stock valued at $25,559,300 in the last 90 days. 0.33% of the stock is currently owned by insiders.

Caterpillar Trading Up 0.9%

Shares of CAT stock opened at $531.80 on Tuesday. The firm has a 50-day moving average price of $455.85 and a 200 day moving average price of $393.23. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $544.99. The company has a market capitalization of $249.13 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 3.00 and a beta of 1.46. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same period in the previous year, the firm posted $5.99 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio is currently 30.72%.

Analyst Ratings Changes

CAT has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $505.00 to $650.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. DA Davidson boosted their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Truist Financial boosted their price objective on shares of Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research report on Wednesday, July 9th. Finally, Sanford C. Bernstein boosted their target price on shares of Caterpillar from $447.00 to $502.00 and gave the company a “market perform” rating in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $515.40.

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.