Arbor Trust Wealth Advisors LLC Buys 53 Shares of Caterpillar Inc. (NYSE:CAT)

Arbor Trust Wealth Advisors LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,721 shares of the industrial products company’s stock after purchasing an additional 53 shares during the quarter. Arbor Trust Wealth Advisors LLC’s holdings in Caterpillar were worth $2,239,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CAT. Gilbert & Cook Inc. increased its position in shares of Caterpillar by 3.9% during the fourth quarter. Gilbert & Cook Inc. now owns 5,059 shares of the industrial products company’s stock worth $1,496,000 after buying an additional 192 shares during the period. 9258 Wealth Management LLC lifted its stake in shares of Caterpillar by 1.5% in the 4th quarter. 9258 Wealth Management LLC now owns 3,839 shares of the industrial products company’s stock valued at $1,135,000 after purchasing an additional 55 shares during the period. Rollins Financial lifted its stake in shares of Caterpillar by 49.1% in the 4th quarter. Rollins Financial now owns 6,395 shares of the industrial products company’s stock valued at $1,891,000 after purchasing an additional 2,107 shares during the period. Gryphon Financial Partners LLC boosted its position in shares of Caterpillar by 6.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,496 shares of the industrial products company’s stock valued at $420,000 after purchasing an additional 92 shares in the last quarter. Finally, Wealthspire Advisors LLC increased its holdings in Caterpillar by 8.9% in the fourth quarter. Wealthspire Advisors LLC now owns 5,336 shares of the industrial products company’s stock worth $1,578,000 after purchasing an additional 438 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Stock Down 1.1 %

CAT opened at $336.57 on Thursday. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01. The company has a market cap of $164.60 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.66 and a beta of 1.12. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The company has a 50 day moving average of $339.82 and a 200 day moving average of $343.25.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same period last year, the company earned $5.55 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, sell-side analysts expect that Caterpillar Inc. will post 21.87 EPS for the current year.

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

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd were given a dividend of $1.41 per share. The ex-dividend date was Monday, July 22nd. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a dividend yield of 1.68%. Caterpillar’s dividend payout ratio is currently 25.46%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CAT shares. Evercore ISI cut their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. Barclays upped their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Truist Financial restated a “buy” rating and issued a $399.00 target price (up from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. Finally, Citigroup assumed coverage on Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $336.31.

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.