Caterpillar Inc. $CAT Stock: Diversified Trust Co Trims Holdings

Diversified Trust Co trimmed its position in Caterpillar Inc. (NYSE:CAT) by 11.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,990 shares of the industrial products company’s stock after selling 1,735 shares during the period. Diversified Trust Co’s holdings in Caterpillar were worth $10,532,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CAT. BlackRock Inc. acquired a new stake in Caterpillar in the second quarter valued at approximately $40,457,153,000. State Street Corp raised its position in shares of Caterpillar by 4.0% during the second quarter. State Street Corp now owns 36,276,960 shares of the industrial products company’s stock worth $37,120,529,000 after purchasing an additional 1,396,356 shares during the period. Bank of America Corp DE acquired a new position in shares of Caterpillar during the second quarter worth approximately $5,818,150,000. Bank of New York Mellon Corp acquired a new position in shares of Caterpillar during the second quarter worth approximately $3,192,710,000. Finally, Legal & General Group Plc bought a new position in shares of Caterpillar in the 2nd quarter worth $2,783,451,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CAT shares. Morgan Stanley reduced their price target on shares of Caterpillar from $915.00 to $675.00 and set an “equal weight” rating for the company in a research report on Friday, October 30th. Wells Fargo & Company lowered their price objective on shares of Caterpillar from $1,155.00 to $840.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Oppenheimer reaffirmed an “outperform” rating and issued a $1,009.00 price objective on shares of Caterpillar in a research note on Thursday, October 29th. Citigroup dropped their price objective on shares of Caterpillar from $950.00 to $800.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $749.00 price objective on shares of Caterpillar in a report on Wednesday, October 14th. Fifteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and an average target price of $898.25.

Trending Headlines about Caterpillar

Here are a few of the latest headlines about CAT:

• Positive Sentiment: Caterpillar ended the third quarter with a record $78 billion backlog, nearly double the year-earlier level. Strong orders across construction, mining and power generation offer revenue visibility, while capacity expansion and automation investments could help support growth. CAT’s Record $78B Backlog Signals Strength
• Positive Sentiment: Investor Kevin Simpson reportedly bought more CAT shares, a favorable sentiment signal, though the article does not provide the rationale or size of the purchase. Trade tracker: Kevin Simpson buys more Caterpillar
• Negative Sentiment: Michael Burry reportedly profited from a Caterpillar options trade and is maintaining the position, suggesting continued bearish bets. The article summary does not specify the position’s size or terms. Michael Burry just made a big move on Caterpillar stock

Caterpillar Stock Performance

Shares of CAT stock opened at $599.80 on Friday. The firm has a 50-day moving average of $740.65 and a 200-day moving average of $805.20. The company has a market cap of $274.46 billion, a P/E ratio of 23.53, a P/E/G ratio of 1.05 and a beta of 1.65. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.42 and a quick ratio of 0.88. Caterpillar Inc. has a one year low of $537.08 and a one year high of $1,073.46.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, October 29th. The industrial products company reported $7.20 EPS for the quarter, topping the consensus estimate of $7.06 by $0.14. Caterpillar had a net margin of 15.21% and a return on equity of 59.87%. The firm had revenue of $20.68 billion for the quarter, compared to analysts’ expectations of $20.76 billion. During the same quarter last year, the firm earned $4.95 EPS. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. Equities research analysts forecast that Caterpillar Inc. will post 27.38 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, October 26th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 26th. Caterpillar’s dividend payout ratio (DPR) is presently 25.58%.

Insider Buying and Selling

In other Caterpillar news, Director David Maclennan acquired 350 shares of Caterpillar stock in a transaction on Thursday, November 12th. The stock was purchased at an average price of $596.10 per share, for a total transaction of $208,635.00. Following the purchase, the director directly owned 8,773 shares of the company’s stock, valued at $5,229,585.30. This trade represents a 4.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joseph Creed sold 32,401 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $808.98, for a total value of $26,211,760.98. Following the completion of the transaction, the chief executive officer owned 34,555 shares of the company’s stock, valued at $27,954,303.90. This trade represents a 48.39% decrease in their position. The SEC filing for this sale provides additional information. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Company Profile

Caterpillar Inc. is a global manufacturer of construction and mining equipment, engines, turbines, and related products and services. Its offerings include earthmoving and material-handling machines, diesel and natural gas engines, power-generation systems, and equipment and technologies used in mining and transportation. The company’s products are commonly sold under the Cat brand. Caterpillar serves customers in markets around the world through a network of independent dealers. Its businesses also provide parts, maintenance, equipment rental, and other support services, as well as financing and insurance through its financial services operations.