Perkins Coie Trust Co Sells 259 Shares of Caterpillar Inc. (NYSE:CAT)

Perkins Coie Trust Co decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,894 shares of the industrial products company’s stock after selling 259 shares during the quarter. Perkins Coie Trust Co’s holdings in Caterpillar were worth $1,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Capital Wealth Advisors increased its holdings in shares of Caterpillar by 2.2% in the first quarter. Vanguard Capital Wealth Advisors now owns 3,548 shares of the industrial products company’s stock worth $1,170,000 after purchasing an additional 78 shares during the period. Stokes Capital Advisors LLC bought a new position in shares of Caterpillar in the first quarter worth $3,606,000. Independence Bank of Kentucky increased its holdings in shares of Caterpillar by 2.0% in the first quarter. Independence Bank of Kentucky now owns 2,172 shares of the industrial products company’s stock worth $716,000 after purchasing an additional 42 shares during the period. Impact Capital Partners LLC increased its holdings in shares of Caterpillar by 4.4% in the first quarter. Impact Capital Partners LLC now owns 1,727 shares of the industrial products company’s stock worth $570,000 after purchasing an additional 73 shares during the period. Finally, First National Corp MA ADV increased its holdings in shares of Caterpillar by 6.3% in the first quarter. First National Corp MA ADV now owns 1,394 shares of the industrial products company’s stock worth $460,000 after purchasing an additional 82 shares during the period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE CAT opened at $353.49 on Friday. The company has a 50-day simple moving average of $320.74 and a two-hundred day simple moving average of $349.91. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50. The firm has a market cap of $166.51 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.87 and a beta of 1.37.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The business had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.64 billion. During the same quarter in the previous year, the company earned $5.60 earnings per share. The business’s quarterly revenue was down 9.8% on a year-over-year basis. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st were given a dividend of $1.41 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $5.64 annualized dividend and a yield of 1.60%. Caterpillar’s payout ratio is 27.49%.

Wall Street Analysts Forecast Growth

CAT has been the topic of several research analyst reports. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and upped their price target for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Morgan Stanley upgraded shares of Caterpillar from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $300.00 to $283.00 in a research report on Wednesday, April 16th. Evercore ISI cut their target price on shares of Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a research report on Monday, May 19th. Citigroup upped their target price on shares of Caterpillar from $320.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Finally, Truist Financial reiterated a “buy” rating and issued a $396.00 target price (up from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $372.92.

Insider Buying and Selling at Caterpillar

In other news, Director David Maclennan bought 375 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the acquisition, the director now owns 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.33% of the company’s stock.

Caterpillar Company 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.