Global Trust Wealth Management LLC Sells 1,158 Shares of Caterpillar Inc. $CAT

Key Points

• Global Trust Wealth Management cut its Caterpillar position by 47% in the second quarter, selling 1,158 shares and retaining 1,306 shares valued at approximately $1.39 million.
• Caterpillar reported strong quarterly results, with EPS of $8.17 versus the $6.22 consensus and revenue of $20.54 billion, up 23.7% year over year.
• The company increased its quarterly dividend from $1.51 to $1.63 per share. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $995.52.

Global Trust Wealth Management LLC reduced its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 47.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,306 shares of the industrial products company's stock after selling 1,158 shares during the quarter. Caterpillar accounts for about 1.0% of Global Trust Wealth Management LLC's investment portfolio, making the stock its 26th largest position. Global Trust Wealth Management LLC's holdings in Caterpillar were worth $1,391,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CAT. Lam Group Inc. bought a new stake in shares of Caterpillar during the 1st quarter worth $26,000. Torren Management LLC bought a new stake in Caterpillar during the fourth quarter worth about $27,000. Frazier Financial Advisors LLC boosted its holdings in shares of Caterpillar by 220.0% in the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company's stock worth $28,000 after purchasing an additional 33 shares in the last quarter. Decker Retirement Planning Inc. increased its position in shares of Caterpillar by 440.0% during the 2nd quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 22 shares during the last quarter. Finally, Cornerstone Financial Management LLC purchased a new position in shares of Caterpillar during the 4th quarter valued at about $32,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Trading Up 3.2%

Shares of CAT opened at $883.90 on Tuesday. Caterpillar Inc. has a 1-year low of $405.46 and a 1-year high of $1,073.46. The firm has a market capitalization of $406.30 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 1.53 and a beta of 1.60. The firm's 50-day moving average price is $914.46 and its 200-day moving average price is $829.59. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, topping the consensus estimate of $6.22 by $1.95. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The business had revenue of $20.54 billion during the quarter, compared to analyst estimates of $19.34 billion. During the same period last year, the business posted $4.72 earnings per share. Caterpillar's quarterly revenue was up 23.7% compared to the same quarter last year. Sell-side analysts anticipate that Caterpillar Inc. will post 26.56 EPS for the current year.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, July 20th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Monday, July 20th. This is a positive change from Caterpillar's previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 0.7%. Caterpillar's payout ratio is currently 28.06%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays upped their target price on Caterpillar from $800.00 to $900.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 6th. Wells Fargo & Company boosted their price objective on shares of Caterpillar from $1,050.00 to $1,155.00 and gave the stock an "overweight" rating in a report on Tuesday, June 23rd. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $1,002.00 price objective on shares of Caterpillar in a research note on Wednesday, August 5th. Daiwa Securities Group lifted their target price on shares of Caterpillar from $790.00 to $900.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. Finally, Jefferies Financial Group upped their price target on shares of Caterpillar from $900.00 to $1,045.00 and gave the company a "buy" rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $995.52.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company's product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.

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