Boomfish Wealth Group LLC Purchases Shares of 538 Caterpillar Inc. $CAT

Key Points

• Boomfish Wealth Group LLC acquired 538 shares of Caterpillar Inc. during Q2, valued at approximately $209,000.
• Caterpillar announced a quarterly dividend payment of $1.51 per share, with dividends to be paid on November 20th for shareholders of record on October 20th.
• Despite reporting a quarterly EPS of $4.72 (below estimates), the company generated $16.57 billion in revenue, indicating a year-over-year decrease.

Boomfish Wealth Group LLC purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 538 shares of the industrial products company's stock, valued at approximately $209,000.

Other large investors have also added to or reduced their stakes in the company. Compass Financial Services Inc grew its stake 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 last quarter. Family Legacy Financial Solutions LLC bought a new stake in shares of Caterpillar in the 2nd quarter valued at about $32,000. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar in the 1st quarter valued at about $33,000. Fiduciary Wealth Partners LLC bought a new stake in shares of Caterpillar in the 1st quarter valued at about $45,000. Finally, Maseco LLP bought a new stake in shares of Caterpillar in the 2nd quarter valued at about $45,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Trading Up 3.2%

Shares of NYSE CAT opened at $502.08 on Thursday. The business's 50 day moving average is $440.73 and its two-hundred day moving average is $381.76. 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 Inc. has a 1-year low of $267.30 and a 1-year high of $509.48. The stock has a market capitalization of $235.21 billion, a P/E ratio of 25.54, a PEG ratio of 2.96 and a beta of 1.46.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data 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 return on equity of 48.95% and a net margin of 14.95%.The company had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same period in the previous year, the firm earned $5.99 earnings per share. The company's revenue was down .7% compared to the same quarter last year. As a group, research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, October 20th. Caterpillar's payout ratio is 30.72%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CAT. Evercore ISI raised Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price for the company in a research note on Tuesday, August 19th. Weiss Ratings reissued a "buy (b-)" rating on shares of Caterpillar in a research note on Saturday, September 27th. Robert W. Baird boosted their target price on Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Jefferies Financial Group restated a "buy" rating and set a $500.00 price target on shares of Caterpillar in a report on Friday, August 29th. Finally, Citigroup boosted their price target on Caterpillar from $540.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $473.53.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was 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 in the company, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the sale, the chairman owned 482,505 shares of the company's stock, valued at $199,211,839.35. The trade was a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,819 shares of company stock worth $16,885,492 over the last 90 days. Company insiders own 0.33% of the company's stock.

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.

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