Caterpillar Inc. (NYSE:CAT) Shares Sold by Global Trust Asset Management LLC

Global Trust Asset Management LLC reduced its stake in Caterpillar Inc. (NYSE:CAT) by 39.9% in the 1st quarter, Holdings Channel reports. The firm owned 5,463 shares of the industrial products company’s stock after selling 3,627 shares during the quarter. Caterpillar accounts for approximately 1.1% of Global Trust Asset Management LLC’s portfolio, making the stock its 17th biggest position. Global Trust Asset Management LLC’s holdings in Caterpillar were worth $1,802,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Caterpillar in the 4th quarter valued at about $2,184,364,000. GAMMA Investing LLC boosted its position in Caterpillar by 43,447.3% in the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company’s stock valued at $1,230,239,000 after buying an additional 3,721,693 shares during the last quarter. Capital Research Global Investors boosted its position in Caterpillar by 69.3% in the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company’s stock valued at $1,060,730,000 after buying an additional 1,196,861 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Caterpillar in the 4th quarter valued at about $353,231,000. Finally, Proficio Capital Partners LLC boosted its position in Caterpillar by 50,072.7% in the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock valued at $291,938,000 after buying an additional 803,166 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan purchased 375 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were purchased at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director now owns 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

CAT opened at $362.21 on Tuesday. The business’s 50 day moving average is $328.90 and its 200-day moving average is $347.55. The stock has a market cap of $170.62 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $14.64 billion. During the same period last year, the firm posted $5.60 EPS. The business’s quarterly revenue was down 9.8% on a year-over-year basis. On average, analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Monday, July 21st. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s dividend payout ratio (DPR) is currently 29.43%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CAT shares. DA Davidson upped their price objective on shares of Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Oppenheimer upgraded Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price target for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. decreased their price target on Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Baird R W upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. Finally, Truist Financial reiterated a “buy” rating and issued a $396.00 price target (up from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Caterpillar has an average rating of “Moderate Buy” and an average target price of $372.92.

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.