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

IMG Wealth Management Inc. raised its position in Caterpillar Inc. (NYSE:CAT) by 5.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 506 shares of the industrial products company’s stock after acquiring an additional 28 shares during the quarter. IMG Wealth Management Inc.’s holdings in Caterpillar were worth $196,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new position in Caterpillar in the second quarter worth approximately $28,000. Family Legacy Financial Solutions LLC purchased a new position in Caterpillar in the second quarter worth approximately $32,000. Harbor Asset Planning Inc. purchased a new position in Caterpillar in the second quarter worth approximately $34,000. Compass Financial Services Inc lifted its stake in Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 31 shares during the last quarter. Finally, Redmont Wealth Advisors LLC acquired a new stake in Caterpillar during the first quarter worth approximately $33,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction on 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 completion of the transaction, the chairman owned 482,505 shares in the company, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,985 shares of company stock worth $25,559,300 in the last three months. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $531.80 on Tuesday. The firm’s fifty day simple moving average is $455.85 and its 200-day simple moving average is $393.23. The stock 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. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $544.99. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81.

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

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is 30.72%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CAT. Oppenheimer raised their price objective on shares of Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Barclays raised their price objective on shares of Caterpillar from $425.00 to $485.00 and gave the stock an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $505.00 to $650.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Bank of America raised their price objective on shares of Caterpillar from $517.00 to $594.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, Jefferies Financial Group raised their price objective on shares of Caterpillar from $500.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $515.40.

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.