City Holding Co. Sells 937 Shares of Caterpillar Inc. $CAT

City Holding Co. cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 4.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,976 shares of the industrial products company’s stock after selling 937 shares during the quarter. Caterpillar makes up about 2.3% of City Holding Co.’s portfolio, making the stock its 7th largest position. City Holding Co.’s holdings in Caterpillar were worth $20,207,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAT. Lam Group Inc. bought a new stake in Caterpillar in the 1st quarter valued at about $26,000. Torren Management LLC acquired a new position in Caterpillar during the 4th quarter worth approximately $27,000. Frazier Financial Advisors LLC boosted its holdings in Caterpillar by 220.0% in the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 33 shares in the last quarter. Cornerstone Financial Management LLC acquired a new stake in Caterpillar in the fourth quarter valued at approximately $32,000. Finally, Matrix Trust Co increased its holdings in shares of Caterpillar by 93.8% during the second quarter. Matrix Trust Co now owns 31 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 15 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Insider Activity

In other Caterpillar news, CAO William E. Schaupp sold 360 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $906.00, for a total value of $326,160.00. Following the completion of the sale, the chief accounting officer owned 530 shares in the company, valued at approximately $480,180. This trade represents a 40.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Denise C. Johnson sold 12,605 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $907.91, for a total value of $11,444,205.55. Following the completion of the transaction, the insider owned 49,825 shares in the company, valued at $45,236,615.75. The trade was a 20.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 19,161 shares of company stock valued at $17,407,424. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Citigroup upped their target price on Caterpillar from $1,020.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Truist Financial set a $980.00 price target on shares of Caterpillar in a research report on Wednesday, August 5th. Barclays upped their price objective on shares of Caterpillar from $800.00 to $900.00 and gave the stock an “equal weight” rating in a report on Thursday. Evercore reaffirmed an “outperform” rating and issued a $1,103.00 price objective on shares of Caterpillar in a research note on Monday, May 11th. Finally, Robert W. Baird set a $970.00 price objective on shares of Caterpillar in a report on Wednesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus price target of $995.52.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $836.29 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. The stock has a market cap of $384.42 billion, a PE ratio of 35.98, a price-to-earnings-growth ratio of 1.52 and a beta of 1.60. The stock’s fifty day simple moving average is $920.45 and its two-hundred day simple moving average is $821.82. Caterpillar Inc. has a 1-year low of $405.46 and a 1-year high of $1,073.46.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.22 by $1.95. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The firm had revenue of $20.54 billion during the quarter, compared to analyst estimates of $19.34 billion. During the same quarter in the prior year, the business posted $4.72 EPS. The business’s revenue was up 23.7% compared to the same quarter last year. As a group, analysts forecast that Caterpillar Inc. will post 26.3 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, July 20th. This is a positive change from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s payout ratio is currently 28.06%.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off?highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.