Global Wealth Management Investment Advisory Inc. Lowers Holdings in Caterpillar Inc. $CAT

Global Wealth Management Investment Advisory Inc. lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 4.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,454 shares of the industrial products company’s stock after selling 598 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Caterpillar were worth $4,835,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Mid American Wealth Advisory Group Inc. bought a new position in shares of Caterpillar during the second quarter valued at approximately $28,000. Compass Financial Services Inc boosted its position in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar during the second quarter valued at about $32,000. Harbor Asset Planning Inc. acquired a new position in Caterpillar during the 2nd quarter valued at approximately $34,000. Finally, Total Wealth Planning & Management Inc. acquired a new position in shares of Caterpillar in the 2nd quarter valued at $38,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Trading Down 1.2%

Shares of CAT opened at $562.82 on Friday. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $596.21. The stock has a market cap of $263.39 billion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. The firm’s fifty day moving average is $491.77 and its two-hundred day moving average is $418.73. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. The business had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned $5.17 earnings per share. Research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s payout ratio is currently 31.01%.

Insiders Place Their Bets

In related news, insider Lange Bob De sold 14,638 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total value of $8,231,825.68. Following the completion of the sale, the insider owned 80,209 shares of the company’s stock, valued at approximately $45,106,333.24. This trade represents a 15.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO William E. Schaupp sold 1,200 shares of Caterpillar stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total value of $686,664.00. Following the transaction, the chief accounting officer owned 1,323 shares in the company, valued at approximately $757,047.06. The trade was a 47.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 71,823 shares of company stock valued at $34,477,790. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the topic of several research reports. Robert W. Baird increased their price target on shares of Caterpillar from $612.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Truist Financial reaffirmed a “buy” rating and issued a $729.00 price target (up previously from $582.00) on shares of Caterpillar in a report on Thursday, October 30th. Jefferies Financial Group raised their price objective on Caterpillar from $570.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday. DA Davidson upped their target price on Caterpillar from $408.00 to $569.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Finally, Oppenheimer lifted their price target on shares of Caterpillar from $513.00 to $645.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $596.59.

Caterpillar Company 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.