Total Clarity Wealth Management Inc. Reduces Position in Caterpillar Inc. $CAT

Total Clarity Wealth Management Inc. cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,257 shares of the industrial products company’s stock after selling 116 shares during the period. Total Clarity Wealth Management Inc.’s holdings in Caterpillar were worth $1,653,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Compass Financial Services Inc boosted its position 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 purchasing an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC purchased a new position in Caterpillar in the second quarter worth about $32,000. Redmont Wealth Advisors LLC purchased a new position in Caterpillar in the first quarter worth about $33,000. Total Wealth Planning & Management Inc. purchased a new position in Caterpillar in the second quarter worth about $38,000. Finally, Fiduciary Wealth Partners LLC purchased a new position in Caterpillar in the first quarter worth about $45,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $491.67 on Monday. The stock’s fifty day moving average is $443.23 and its two-hundred day moving average is $384.49. The company has a market capitalization of $230.34 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 3.01 and a beta of 1.46. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $511.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS 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 the consensus estimate 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 last year, the company earned $5.99 EPS. As a group, analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The business 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 dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. Caterpillar’s dividend payout ratio (DPR) is presently 30.72%.

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $462.65, for a total value of $7,941,849.90. Following the sale, the chairman directly owned 465,339 shares in the company, valued at approximately $215,289,088.35. The trade was a 3.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,819 shares of company stock valued at $16,885,492 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CAT. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research report on Wednesday, July 9th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a research report on Monday, July 14th. Bank of America lifted their price objective on Caterpillar from $495.00 to $517.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Caterpillar in a research report on Saturday, September 27th. Finally, Truist Financial lifted their target price on Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $478.20.

About Caterpillar

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.