Whittier Trust Co. Sells 548 Shares of Caterpillar Inc. $CAT

Whittier Trust Co. lowered its position in Caterpillar Inc. (NYSE:CAT) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 48,644 shares of the industrial products company’s stock after selling 548 shares during the period. Whittier Trust Co.’s holdings in Caterpillar were worth $18,884,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CAT. Pacific Point Advisors LLC bought a new position in shares of Caterpillar in the fourth quarter valued at approximately $579,000. Brighton Jones LLC boosted its position in shares of Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after buying an additional 2,519 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Caterpillar by 32.0% during the first quarter. GAMMA Investing LLC now owns 11,311 shares of the industrial products company’s stock valued at $3,730,000 after buying an additional 2,745 shares during the last quarter. Crews Bank & Trust boosted its position in shares of Caterpillar by 23.8% during the first quarter. Crews Bank & Trust now owns 1,014 shares of the industrial products company’s stock valued at $334,000 after buying an additional 195 shares during the last quarter. Finally, Jericho Financial LLP boosted its position in shares of Caterpillar by 7.1% during the first quarter. Jericho Financial LLP now owns 13,276 shares of the industrial products company’s stock valued at $4,379,000 after buying an additional 877 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CAT shares. Truist Financial lifted their target price on Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Barclays lifted their target price on Caterpillar from $425.00 to $485.00 and gave the company an “equal weight” rating in a research report on Friday. Bank of America lifted their price target on Caterpillar from $517.00 to $594.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Oppenheimer lifted their price target on Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Finally, Melius Research upgraded Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and an average price target of $515.40.

Caterpillar Stock Performance

Shares of CAT opened at $531.80 on Tuesday. The firm has a market cap of $249.13 billion, a PE ratio of 27.05, a PEG ratio of 3.00 and a beta of 1.46. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $544.99. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The stock’s fifty day moving average price is $455.85 and its two-hundred day moving average price is $393.23.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). The company had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. Caterpillar’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the firm posted $5.99 earnings per share. On average, equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s payout ratio is presently 30.72%.

Insider Buying and Selling at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the completion of the sale, the chairman directly owned 448,173 shares in the company, valued at $226,457,335.17. This represents a 3.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,985 shares of company stock valued at $25,559,300 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Caterpillar 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.