Cannon Advisors Inc. Sells 141 Shares of Caterpillar Inc. $CAT

Cannon Advisors Inc. lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,791 shares of the industrial products company’s stock after selling 141 shares during the quarter. Caterpillar makes up 2.7% of Cannon Advisors Inc.’s holdings, making the stock its 12th biggest holding. Cannon Advisors Inc.’s holdings in Caterpillar were worth $3,413,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Mid American Wealth Advisory Group Inc. bought a new stake in Caterpillar during the 2nd quarter worth $28,000. Compass Financial Services Inc grew its holdings 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 worth $31,000 after purchasing an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar in the second quarter valued at approximately $32,000. Harbor Asset Planning Inc. bought a new position in Caterpillar in the 2nd quarter valued at approximately $34,000. Finally, Total Wealth Planning & Management Inc. acquired a new stake in Caterpillar during the 2nd quarter worth approximately $38,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Down 0.1%

Shares of NYSE:CAT opened at $552.74 on Friday. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $596.21. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.81. The business’s 50-day moving average is $506.27 and its 200-day moving average is $427.79. The company has a market capitalization of $258.67 billion, a price-to-earnings ratio of 28.37, a P/E/G ratio of 3.33 and a beta of 1.51.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. During the same period in the previous year, the company posted $5.17 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently announced 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. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s payout ratio is presently 31.01%.

Insider Buying and Selling at Caterpillar

In other news, insider Jason Kaiser sold 10,707 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $563.60, for a total transaction of $6,034,465.20. Following the transaction, the insider owned 8,649 shares of the company’s stock, valued at $4,874,576.40. This represents a 55.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction dated 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 directly owned 482,505 shares of the company’s stock, valued at $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 86,229 shares of company stock valued at $43,323,118 over the last 90 days. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CAT shares. Robert W. Baird upped their price target on shares of Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Truist Financial restated a “buy” rating and issued a $729.00 price objective (up from $582.00) on shares of Caterpillar in a report on Thursday, October 30th. Jefferies Financial Group lifted their target price on Caterpillar from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. DA Davidson increased their price target on Caterpillar from $408.00 to $569.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Finally, Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $600.94.

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.