First National Trust Co Purchases 142 Shares of Caterpillar Inc. (NYSE:CAT)

by · The Markets Daily

First National Trust Co grew its position in Caterpillar Inc. (NYSE:CAT – Free Report) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,965 shares of the industrial products company’s stock after purchasing an additional 142 shares during the period. First National Trust Co’s holdings in Caterpillar were worth $19,151,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAT. Harbour Investments Inc. grew its stake in Caterpillar by 2.9% in the third quarter. Harbour Investments Inc. now owns 6,548 shares of the industrial products company’s stock valued at $2,561,000 after acquiring an additional 182 shares during the period. Apollon Wealth Management LLC lifted its holdings in shares of Caterpillar by 0.8% during the 3rd quarter. Apollon Wealth Management LLC now owns 22,841 shares of the industrial products company’s stock valued at $8,934,000 after purchasing an additional 180 shares in the last quarter. Everhart Financial Group Inc. grew its position in shares of Caterpillar by 13.2% in the 3rd quarter. Everhart Financial Group Inc. now owns 3,856 shares of the industrial products company’s stock valued at $1,508,000 after purchasing an additional 450 shares during the period. Lynx Investment Advisory increased its stake in Caterpillar by 6.5% during the 3rd quarter. Lynx Investment Advisory now owns 1,076 shares of the industrial products company’s stock worth $421,000 after purchasing an additional 66 shares in the last quarter. Finally, Tacita Capital Inc raised its holdings in Caterpillar by 23.9% during the 3rd quarter. Tacita Capital Inc now owns 259 shares of the industrial products company’s stock worth $101,000 after buying an additional 50 shares during the period. 70.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CAT has been the subject of several research reports. Barclays increased their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Truist Financial increased their target price on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Bank of America lifted their target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $362.40.

Get Our Latest Stock Report on CAT

Caterpillar Stock Up 0.9 %

Caterpillar stock opened at $396.79 on Tuesday. Caterpillar Inc. has a fifty-two week low of $238.88 and a fifty-two week high of $418.50. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The firm has a market capitalization of $191.57 billion, a PE ratio of 18.40, a P/E/G ratio of 1.94 and a beta of 1.10. The company’s 50-day moving average is $376.80 and its 200-day moving average is $352.60.

Caterpillar (NYSE:CAT – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The business had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. Caterpillar’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.52 EPS. Sell-side analysts anticipate that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio is presently 26.15%.

Insider Activity at Caterpillar

In related news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel M. Dickinson sold 1,300 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the transaction, the director now directly owns 4,976 shares in the company, valued at approximately $2,079,968. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,749 shares of company stock worth $9,251,912. Insiders own 0.29% of the company’s stock.

Caterpillar Company 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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