Private Trust Co. NA Increases Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Private Trust Co. NA lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 8,031 shares of the industrial products company’s stock after buying an additional 76 shares during the quarter. Private Trust Co. NA’s holdings in Caterpillar were worth $3,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mount Yale Investment Advisors LLC raised its holdings in Caterpillar by 71.0% during the first quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the industrial products company’s stock worth $683,000 after purchasing an additional 774 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Caterpillar in the 1st quarter valued at approximately $2,272,000. Waverly Advisors LLC raised its position in Caterpillar by 60.8% in the first quarter. Waverly Advisors LLC now owns 10,620 shares of the industrial products company’s stock worth $3,891,000 after acquiring an additional 4,014 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Caterpillar during the 1st quarter worth $2,743,000. Finally, Sweeney & Michel LLC acquired a new position in shares of Caterpillar during the 1st quarter worth $512,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Price Performance

CAT opened at $403.23 on Monday. Caterpillar Inc. has a 52-week low of $246.01 and a 52-week high of $418.50. The company has a 50 day moving average of $386.81 and a two-hundred day moving average of $356.00. The company has a market cap of $194.68 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.96 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same quarter in the prior year, the firm earned $5.52 EPS. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, analysts expect that Caterpillar Inc. will post 21.67 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were paid a $1.41 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.40%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Insider Buying and Selling

In other news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This trade represents a 8.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. This trade represents a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,774 shares of company stock valued at $8,233,034 in the last quarter. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on CAT shares. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Bank of America raised their price objective on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. UBS Group boosted their target price on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Truist Financial lifted their price target on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $365.33.

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.