Caterpillar Inc. $CAT Shares Acquired by FineMark National Bank & Trust

FineMark National Bank & Trust lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 46,215 shares of the industrial products company’s stock after acquiring an additional 200 shares during the period. FineMark National Bank & Trust’s holdings in Caterpillar were worth $17,941,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. acquired a new stake in Caterpillar in the 2nd quarter valued at about $28,000. Family Legacy Financial Solutions LLC acquired a new stake in Caterpillar in the second quarter valued at approximately $32,000. Harbor Asset Planning Inc. purchased a new position in Caterpillar in the second quarter worth approximately $34,000. Compass Financial Services Inc grew its holdings in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 31 shares in the last quarter. Finally, Maseco LLP purchased a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $45,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

Shares of NYSE CAT opened at $546.75 on Wednesday. The stock has a market cap of $255.87 billion, a P/E ratio of 28.07, a P/E/G ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $596.21. The stock has a 50 day moving average of $511.40 and a two-hundred day moving average of $431.86. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The business had revenue of $17.64 billion for the quarter, compared to analyst estimates of $16.72 billion. During the same period last year, the firm posted $5.17 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. Caterpillar’s payout ratio is currently 31.01%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CAO William E. Schaupp sold 1,200 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total transaction of $686,664.00. Following the completion of the sale, the chief accounting officer directly owned 1,323 shares of the company’s stock, valued at approximately $757,047.06. This trade represents a 47.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason Kaiser sold 10,707 shares of Caterpillar stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $563.60, for a total value of $6,034,465.20. Following the completion of the transaction, the insider owned 8,649 shares in the company, valued at $4,874,576.40. This trade represents a 55.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 86,229 shares of company stock valued at $43,323,118. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. DA Davidson boosted their target price on shares of Caterpillar from $408.00 to $569.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Robert W. Baird increased their price objective on Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Wells Fargo & Company began coverage on Caterpillar in a research report on Thursday, November 13th. They set an “overweight” rating and a $675.00 target price on the stock. HSBC raised Caterpillar from a “hold” rating to a “buy” rating and upped their price target for the company from $405.00 to $660.00 in a report on Wednesday, November 5th. Finally, Royal Bank Of Canada assumed coverage on shares of Caterpillar in a report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $600.94.

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.