Caterpillar Inc. $CAT Shares Sold by Glenview Trust Co

Glenview Trust Co decreased its holdings in Caterpillar Inc. (NYSE:CAT) by 2.0% during the 1st quarter, HoldingsChannel reports. The fund owned 67,913 shares of the industrial products company’s stock after selling 1,402 shares during the quarter. Glenview Trust Co’s holdings in Caterpillar were worth $48,114,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Axxcess Wealth Management LLC raised its holdings in Caterpillar by 2.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 22,420 shares of the industrial products company’s stock valued at $12,844,000 after acquiring an additional 604 shares in the last quarter. Juno Financial Group LLC acquired a new position in Caterpillar during the 4th quarter worth $877,000. DSG Capital Advisors LLC bought a new stake in shares of Caterpillar in the 1st quarter worth about $1,226,000. Cornerstone Planning LLC bought a new stake in shares of Caterpillar in the 4th quarter worth about $4,517,000. Finally, Ticino Wealth acquired a new stake in shares of Caterpillar in the 4th quarter valued at about $2,488,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 15,674 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $918.71, for a total value of $14,399,860.54. Following the sale, the chief financial officer owned 52,935 shares in the company, valued at approximately $48,631,913.85. This trade represents a 22.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO William E. Schaupp sold 360 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $906.00, for a total value of $326,160.00. Following the sale, the chief accounting officer directly owned 530 shares in the company, valued at approximately $480,180. This trade represents a 40.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 95,773 shares of company stock worth $87,642,635. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Citigroup lifted their price target on Caterpillar from $1,020.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Truist Financial increased their target price on Caterpillar from $1,043.00 to $1,218.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Rothschild & Co Redburn lifted their target price on Caterpillar from $700.00 to $950.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Wolfe Research boosted their price target on Caterpillar from $670.00 to $750.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. Finally, Bank of America upped their price target on Caterpillar from $930.00 to $989.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Fifteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $980.57.

Caterpillar Stock Down 1.8%

Shares of Caterpillar stock opened at $864.72 on Tuesday. The stock has a market capitalization of $398.28 billion, a price-to-earnings ratio of 43.04, a PEG ratio of 1.72 and a beta of 1.57. Caterpillar Inc. has a twelve month low of $405.46 and a twelve month high of $1,073.46. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64. The business’s 50 day simple moving average is $930.07 and its 200-day simple moving average is $796.99.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.65 by $0.89. The business had revenue of $17.41 billion during the quarter, compared to analyst estimates of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.25 EPS. Equities research analysts forecast that Caterpillar Inc. will post 24.87 earnings per share for the current year.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.8%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend is Monday, July 20th. Caterpillar’s dividend payout ratio is presently 30.06%.

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.