Midwest Trust Co Sells 2,420 Shares of Caterpillar Inc. $CAT

Midwest Trust Co reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,709 shares of the industrial products company’s stock after selling 2,420 shares during the period. Caterpillar accounts for approximately 1.1% of Midwest Trust Co’s portfolio, making the stock its 19th biggest holding. Midwest Trust Co’s holdings in Caterpillar were worth $80,976,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CAT. Kilter Group LLC bought a new position in shares of Caterpillar in the second quarter valued at approximately $27,000. Mid American Wealth Advisory Group Inc. acquired a new position in Caterpillar in the 2nd quarter valued at $28,000. Marquette Asset Management LLC raised its holdings in Caterpillar by 1,060.0% in the 3rd quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 53 shares during the period. RiverPark Advisors LLC acquired a new position in Caterpillar during the 2nd quarter worth $32,000. Finally, Joseph Group Capital Management bought a new stake in Caterpillar during the third quarter valued at about $32,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Up 2.2%

Shares of Caterpillar stock opened at $742.51 on Tuesday. The company’s fifty day moving average price is $620.65 and its two-hundred day moving average price is $532.69. The firm has a market capitalization of $347.48 billion, a PE ratio of 39.45, a price-to-earnings-growth ratio of 1.72 and a beta of 1.58. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $743.50. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.44 and a quick ratio of 0.94.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.49. The business had revenue of $19.13 billion for the quarter, compared to analysts’ expectations of $17.81 billion. Caterpillar had a net margin of 13.14% and a return on equity of 45.76%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.14 earnings per share. On average, analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Tuesday, January 20th will be paid a $1.51 dividend. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $6.04 annualized dividend and a yield of 0.8%. Caterpillar’s payout ratio is currently 32.09%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CAT shares. UBS Group reissued a “neutral” rating and set a $677.00 price objective on shares of Caterpillar in a research report on Monday, February 2nd. Citigroup lifted their price target on Caterpillar from $710.00 to $760.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Rothschild & Co Redburn upped their price target on Caterpillar from $650.00 to $700.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Royal Bank Of Canada raised their price objective on shares of Caterpillar from $587.00 to $658.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $740.00 to $765.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Sixteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $690.90.

Insider Buying and Selling

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $575.06, for a total transaction of $5,750,600.00. Following the completion of the transaction, the chief financial officer directly owned 45,460 shares in the company, valued at $26,142,227.60. This represents a 18.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Denise C. Johnson sold 39,138 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $681.08, for a total transaction of $26,656,109.04. Following the completion of the sale, the insider owned 43,350 shares in the company, valued at $29,524,818. This represents a 47.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 130,545 shares of company stock valued at $88,294,733. 0.33% of the stock is currently owned by insiders.

Caterpillar Company Profile

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.