Caterpillar Inc. (NYSE:CAT) Shares Acquired by Diversified Trust Co

by · The Markets Daily

Diversified Trust Co boosted its position in Caterpillar Inc. (NYSE:CAT – Free Report) by 38.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,542 shares of the industrial products company’s stock after acquiring an additional 2,915 shares during the period. Diversified Trust Co’s holdings in Caterpillar were worth $3,477,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Stone Summit Wealth LLC grew its position in shares of Caterpillar by 4.8% in the first quarter. Stone Summit Wealth LLC now owns 7,077 shares of the industrial products company’s stock valued at $2,334,000 after purchasing an additional 325 shares during the period. CNB Bank boosted its stake in Caterpillar by 5.9% in the 1st quarter. CNB Bank now owns 6,271 shares of the industrial products company’s stock worth $2,068,000 after buying an additional 350 shares during the last quarter. PDS Planning Inc grew its holdings in Caterpillar by 7.3% in the 1st quarter. PDS Planning Inc now owns 2,543 shares of the industrial products company’s stock valued at $839,000 after buying an additional 173 shares during the period. Bank of Stockton increased its stake in shares of Caterpillar by 19.1% during the 1st quarter. Bank of Stockton now owns 2,337 shares of the industrial products company’s stock valued at $771,000 after acquiring an additional 374 shares during the last quarter. Finally, MFG Wealth Management Inc. lifted its holdings in shares of Caterpillar by 3.6% during the 1st quarter. MFG Wealth Management Inc. now owns 6,589 shares of the industrial products company’s stock worth $2,173,000 after acquiring an additional 226 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on CAT. Bank of America boosted their target price on shares of Caterpillar from $335.00 to $385.00 and gave the company a “buy” rating in a report on Friday, May 30th. Citigroup reissued a “buy” rating and set a $420.00 price objective (up from $370.00) on shares of Caterpillar in a research note on Tuesday. Evercore ISI cut their price objective on Caterpillar from $375.00 to $373.00 and set an “in-line” rating on the stock in a report on Monday, May 19th. Robert W. Baird raised their target price on shares of Caterpillar from $395.00 to $422.00 and gave the company an “outperform” rating in a research note on Friday, June 20th. Finally, Morgan Stanley raised Caterpillar from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $300.00 to $283.00 in a research report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and a consensus price target of $380.83.

View Our Latest Research Report on CAT

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan bought 375 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director now directly owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Price Performance

Shares of NYSE CAT opened at $381.70 on Friday. The firm’s 50-day simple moving average is $340.31 and its 200 day simple moving average is $346.48. The stock has a market cap of $179.80 billion, a P/E ratio of 18.60, a P/E/G ratio of 2.47 and a beta of 1.37. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50.

Caterpillar (NYSE:CAT – Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $5.60 earnings per share. Equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.58%. This is an increase from Caterpillar’s previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar’s dividend payout ratio is 27.49%.

Caterpillar Profile

(Free Report)

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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