White Lighthouse Investment Management Inc. Sells 500 Shares of Caterpillar Inc. $CAT

Key Points

• White Lighthouse Investment Management Inc. reduced its stake in Caterpillar Inc. by 16.4%, selling 500 shares during the second quarter, which left them with a total of 2,541 shares valued at $986,000.
• Caterpillar's quarterly earnings report showed earnings per share of $4.72, missing estimates by ($0.16), while revenue totalled $16.57 billion, exceeding expectations of $16.14 billion.
• The company declared a $1.51 quarterly dividend to be paid on November 20th, reflecting an annualized dividend yield of 1.2% and a payout ratio of 30.72%.

White Lighthouse Investment Management Inc. reduced its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 16.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,541 shares of the industrial products company's stock after selling 500 shares during the quarter. White Lighthouse Investment Management Inc.'s holdings in Caterpillar were worth $986,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Trivium Point Advisory LLC boosted its position in Caterpillar by 132.9% in the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company's stock valued at $748,000 after buying an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Caterpillar by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock worth $26,037,000 after purchasing an additional 7,125 shares during the period. Palmer Knight Co acquired a new stake in Caterpillar in the second quarter valued at $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Caterpillar by 11.2% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company's stock valued at $5,557,000 after buying an additional 1,440 shares during the last quarter. Finally, Ransom Advisory Ltd bought a new position in shares of Caterpillar during the first quarter worth about $427,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

NYSE:CAT opened at $524.55 on Wednesday. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $544.99. The business has a fifty day simple moving average of $458.10 and a two-hundred day simple moving average of $394.14. The company has a market capitalization of $245.74 billion, a P/E ratio of 26.69, a P/E/G ratio of 3.02 and a beta of 1.46. 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 - Get Free Report) last posted its earnings results 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). The business had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.Caterpillar's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.99 EPS. On average, analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.2%. Caterpillar's dividend payout ratio is presently 30.72%.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction on 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 sale, the director owned 6,917 shares of the company's stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction on Friday, October 10th. The stock was sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the completion of the transaction, the chairman directly owned 448,173 shares in the company, valued at $226,457,335.17. The trade was a 3.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,985 shares of company stock worth $25,559,300. Corporate insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CAT. DA Davidson lifted their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Bank of America lifted their price objective on shares of Caterpillar from $517.00 to $594.00 and gave the company a "buy" rating in a report on Wednesday, October 15th. UBS Group upped their target price on shares of Caterpillar from $450.00 to $506.00 and gave the stock a "neutral" rating in a report on Monday, October 13th. Truist Financial lifted their price target on Caterpillar from $507.00 to $582.00 and gave the company a "buy" rating in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on Caterpillar from $505.00 to $650.00 and gave the company an "overweight" rating in a research report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $518.19.

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.

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