Posted by admin on Jun 24th, 2022

Global Trust Asset Management LLC raised its holdings in Caterpillar Inc. (NYSE:CAT – Get Rating) by 25.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,890 shares of the industrial products company’s stock after purchasing an additional 2,223 shares during the period. Caterpillar accounts for approximately 1.0% of Global Trust Asset Management LLC’s portfolio, making the stock its 24th largest holding. Global Trust Asset Management LLC’s holdings in Caterpillar were worth $2,426,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Crewe Advisors LLC raised its position in shares of Caterpillar by 322.6% during the 4th quarter. Crewe Advisors LLC now owns 131 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Sierra Capital LLC acquired a new position in shares of Caterpillar in the fourth quarter worth $38,000. IMA Wealth Inc. purchased a new stake in shares of Caterpillar in the fourth quarter valued at $41,000. DB Fitzpatrick & Co Inc acquired a new stake in shares of Caterpillar during the fourth quarter valued at $42,000. Finally, Lloyd Advisory Services LLC. increased its position in Caterpillar by 3,042.9% during the 4th quarter. Lloyd Advisory Services LLC. now owns 220 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 213 shares in the last quarter. Institutional investors and hedge funds own 67.44% of the company’s stock.

In other Caterpillar news, General Counsel Suzette M. Long sold 3,816 shares of the company’s stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $235.00, for a total value of $896,760.00. Following the completion of the transaction, the general counsel now directly owns 10,549 shares of the company’s stock, valued at approximately $2,479,015. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joseph E. Creed sold 2,757 shares of Caterpillar stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $214.13, for a total value of $590,356.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,577 shares of company stock valued at $2,663,056. Insiders own 0.18% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Morgan Stanley lowered their price target on shares of Caterpillar from $164.00 to $161.00 and set an “underweight” rating for the company in a report on Thursday. JPMorgan Chase & Co. boosted their price target on Caterpillar from $241.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, March 28th. Robert W. Baird restated an “outperform” rating and set a $280.00 price objective on shares of Caterpillar in a report on Thursday, May 19th. Tigress Financial upped their target price on Caterpillar from $278.00 to $282.00 and gave the company a “buy” rating in a research note on Friday, May 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Caterpillar from $250.00 to $240.00 in a report on Friday, April 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Caterpillar has a consensus rating of “Moderate Buy” and an average target price of $243.50.

Shares of CAT stock opened at $178.67 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 1.48. Caterpillar Inc. has a fifty-two week low of $176.02 and a fifty-two week high of $237.90. The firm’s 50 day moving average price is $211.91 and its two-hundred day moving average price is $210.39. The stock has a market cap of $95.29 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 1.24 and a beta of 0.94.

Caterpillar (NYSE:CAT – Get Rating) last posted its earnings results on Thursday, April 28th. The industrial products company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.22. Caterpillar had a net margin of 12.33% and a return on equity of 35.10%. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.49 billion. During the same quarter in the previous year, the business posted $2.87 EPS. The business’s quarterly revenue was up 14.4% on a year-over-year basis. On average, equities analysts forecast that Caterpillar Inc. will post 12.64 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Wednesday, July 20th will be given a $1.20 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.11. The ex-dividend date of this dividend is Tuesday, July 19th. This represents a $4.80 annualized dividend and a dividend yield of 2.69%. Caterpillar’s dividend payout ratio is presently 37.22%.

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.

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