First National Trust Co Sells 492 Shares of Caterpillar Inc. $CAT

First National Trust Co cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,409 shares of the industrial products company’s stock after selling 492 shares during the period. First National Trust Co’s holdings in Caterpillar were worth $17,628,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CAT. Mid American Wealth Advisory Group Inc. bought a new stake in Caterpillar during the 2nd quarter worth approximately $28,000. Compass Financial Services Inc increased its holdings in shares of Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares during the period. Family Legacy Financial Solutions LLC bought a new position in shares of Caterpillar in the second quarter worth $32,000. Redmont Wealth Advisors LLC bought a new position in shares of Caterpillar in the first quarter worth $33,000. Finally, Harbor Asset Planning Inc. bought a new position in Caterpillar in the 2nd quarter worth about $34,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

CAT stock opened at $527.12 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $544.99. The firm’s fifty day moving average is $466.75 and its 200 day moving average is $401.50. The firm has a market cap of $246.95 billion, a P/E ratio of 26.81, a P/E/G ratio of 2.98 and a beta of 1.46.

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

Caterpillar Announces Dividend

The business also recently declared 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 dividend payout ratio (DPR) is presently 30.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CAT shares. Citigroup upped their target price on Caterpillar from $540.00 to $570.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Royal Bank Of Canada assumed coverage on shares of Caterpillar in a research report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price objective on the stock. Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target on the stock in a report on Tuesday, August 19th. Jefferies Financial Group increased their price target on shares of Caterpillar from $500.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, UBS Group increased their target price on Caterpillar from $450.00 to $506.00 and gave the company a “neutral” rating in a research note on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $518.19.

Insider Buying and Selling

In other news, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares in the company, valued at $2,835,970. This represents a 25.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,985 shares of company stock worth $25,559,300 in the last ninety days. 0.33% of the stock is owned by insiders.

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.