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

Global Wealth Management Investment Advisory Inc. cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 4.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,454 shares of the industrial products company’s stock after selling 598 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Caterpillar were worth $4,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Caterpillar during the second quarter worth about $28,000. Compass Financial Services Inc increased its position in shares of Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after buying an additional 31 shares during the period. Family Legacy Financial Solutions LLC purchased a new position in shares of Caterpillar during the 2nd quarter worth approximately $32,000. Harbor Asset Planning Inc. bought a new position in Caterpillar in the second quarter worth $34,000. Finally, Total Wealth Planning & Management Inc. purchased a new position in Caterpillar during the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 1.2%

NYSE CAT opened at $562.82 on Friday. Caterpillar Inc. has a one year low of $267.30 and a one year high of $596.21. The company has a market capitalization of $263.39 billion, a P/E ratio of 28.89, a P/E/G ratio of 3.33 and a beta of 1.51. The stock has a 50 day moving average price of $491.77 and a 200-day moving average price of $418.73. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.81 and a current ratio of 1.38.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.52 by $0.43. The firm had revenue of $17.64 billion for 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 business’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $5.17 EPS. As a group, equities analysts predict that Caterpillar Inc. will post 19.86 EPS 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 given a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. Caterpillar’s payout ratio is currently 31.01%.

Insider Buying and Selling

In related news, CAO William E. Schaupp sold 1,200 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total transaction of $686,664.00. Following the completion of the transaction, the chief accounting officer owned 1,323 shares in the company, valued at $757,047.06. The trade was a 47.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 71,823 shares of company stock valued at $34,477,790 over the last 90 days. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CAT shares. Jefferies Financial Group raised their price objective on Caterpillar from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays boosted their price objective on shares of Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. increased their target price on Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Finally, HSBC upgraded Caterpillar from a “hold” rating to a “buy” rating and boosted their price objective for the company from $405.00 to $660.00 in a research note on Wednesday. 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 issued a Sell rating to the company. According to data from MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and an average target price of $596.59.

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.