Trustmark National Bank Trust Department Has $1.62 Million Stake in Caterpillar Inc. (NYSE:CAT)

Trustmark National Bank Trust Department grew its holdings in Caterpillar Inc. (NYSE:CAT) by 18.8% during the first quarter, Holdings Channel reports. The firm owned 4,409 shares of the industrial products company’s stock after acquiring an additional 699 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Caterpillar were worth $1,616,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Caterpillar during the fourth quarter valued at approximately $1,660,560,000. International Assets Investment Management LLC raised its holdings in Caterpillar by 28,603.5% during the fourth quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock worth $4,417,360,000 after buying an additional 1,488,813 shares during the last quarter. Capital Wealth Planning LLC lifted its position in Caterpillar by 27,495.2% in the 4th quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock valued at $349,616,000 after acquiring an additional 1,178,168 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Caterpillar by 19.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,264,635 shares of the industrial products company’s stock valued at $947,875,000 after purchasing an additional 529,420 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its holdings in Caterpillar by 5,293.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 482,360 shares of the industrial products company’s stock worth $142,620,000 after buying an additional 473,416 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 0.7 %

Shares of NYSE CAT traded down $2.53 during mid-day trading on Tuesday, hitting $345.34. 1,109,798 shares of the stock traded hands, compared to its average volume of 2,716,888. The stock has a fifty day moving average price of $337.57 and a 200-day moving average price of $334.80. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. The company has a market cap of $168.89 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.80 and a beta of 1.12. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. Research analysts anticipate that Caterpillar Inc. will post 21.61 EPS for the current year.

Caterpillar announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 12th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be issued a dividend of $1.41 per share. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.63%. Caterpillar’s dividend payout ratio is presently 23.48%.

Insider Buying and Selling

In other Caterpillar news, Director David Maclennan acquired 500 shares of the stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $337.39 per share, for a total transaction of $168,695.00. Following the purchase, the director now directly owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction of $512,720.00. Following the completion of the transaction, the insider now owns 20,023 shares in the company, valued at approximately $6,807,820. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Maclennan bought 500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of $337.39 per share, with a total value of $168,695.00. Following the completion of the acquisition, the director now owns 5,738 shares of the company’s stock, valued at approximately $1,935,943.82. The disclosure for this purchase can be found here. Insiders sold a total of 24,863 shares of company stock worth $8,837,714 in the last three months. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CAT shares. StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. Stifel Nicolaus downgraded Caterpillar from a “buy” rating to a “hold” rating and increased their price target for the stock from $293.00 to $350.00 in a research note on Friday, April 26th. TD Cowen boosted their price objective on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $329.63.

About Caterpillar

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.