Caterpillar Inc. (NYSE:CAT) Position Trimmed by Truist Financial Corp

Truist Financial Corp decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 14.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 248,092 shares of the industrial products company’s stock after selling 40,487 shares during the period. Truist Financial Corp’s holdings in Caterpillar were worth $73,353,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Gilfoyle & Co LLC bought a new stake in Caterpillar during the fourth quarter worth approximately $30,000. Fortitude Family Office LLC bought a new stake in Caterpillar during the fourth quarter worth approximately $39,000. Authentikos Wealth Advisory LLC bought a new stake in Caterpillar during the third quarter worth approximately $41,000. Rational Advisors LLC bought a new stake in Caterpillar during the third quarter worth approximately $42,000. Finally, Milestone Investment Advisors LLC bought a new stake in Caterpillar during the third quarter worth approximately $44,000. Institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on CAT shares. The Goldman Sachs Group lifted their price target on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Wells Fargo & Company lifted their price target on shares of Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. StockNews.com lowered shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Finally, Robert W. Baird lifted their price target on shares of Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $310.83.

Caterpillar Trading Up 1.6 %

Caterpillar stock opened at $343.38 on Friday. The company’s fifty day simple moving average is $350.10 and its 200-day simple moving average is $300.99. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. Caterpillar Inc. has a 12 month low of $204.04 and a 12 month high of $382.01. The stock has a market cap of $171.48 billion, a P/E ratio of 15.50, a P/E/G ratio of 1.53 and a beta of 1.17.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating the consensus estimate of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The business had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $16.07 billion. As a group, sell-side analysts forecast that Caterpillar Inc. will post 21.44 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, April 19th. Caterpillar’s dividend payout ratio is currently 23.48%.

Insider Activity at Caterpillar

In related news, insider Lange Bob De sold 21,194 shares of Caterpillar stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total value of $6,899,070.88. Following the completion of the sale, the insider now owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Lange Bob De sold 21,194 shares of Caterpillar stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total value of $6,899,070.88. Following the completion of the sale, the insider now owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the completion of the sale, the chief financial officer now directly owns 57,317 shares of the company’s stock, valued at approximately $17,774,001.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,769 shares of company stock valued at $11,508,906. Insiders own 0.33% of the company’s stock.

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.