Truist Financial Corp Trims Holdings in Caterpillar Inc. (NYSE:CAT)

Truist Financial Corp cut its holdings in Caterpillar Inc. (NYSE:CAT) by 2.4% during the fourth quarter, HoldingsChannel reports. The firm owned 210,221 shares of the industrial products company’s stock after selling 5,230 shares during the period. Truist Financial Corp’s holdings in Caterpillar were worth $76,260,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. FSM Wealth Advisors LLC grew its holdings in Caterpillar by 3.8% during the 4th quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 25 shares in the last quarter. Allen Capital Group LLC boosted its position in Caterpillar by 0.6% in the 4th quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock valued at $1,541,000 after buying an additional 26 shares during the last quarter. Wagner Wealth Management LLC grew its stake in shares of Caterpillar by 4.0% during the fourth quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock valued at $242,000 after acquiring an additional 26 shares in the last quarter. First Bank & Trust lifted its stake in shares of Caterpillar by 4.0% in the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock worth $277,000 after acquiring an additional 27 shares in the last quarter. Finally, Washington Trust Bank boosted its holdings in Caterpillar by 1.2% in the third quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock valued at $919,000 after purchasing an additional 27 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Trading Down 0.1 %

Shares of NYSE CAT opened at $353.31 on Tuesday. The company has a market cap of $170.58 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 1.94 and a beta of 1.12. The stock’s 50 day simple moving average is $372.47 and its 200 day simple moving average is $372.14. 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 12-month low of $307.05 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Equities research analysts expect that Caterpillar Inc. will post 20.05 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.60%. Caterpillar’s dividend payout ratio is presently 25.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Evercore ISI raised Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 target price on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. cut their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Bank of America reduced their price target on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $355.00 to $385.00 in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $383.13.

Insider Buying and Selling

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gerald Johnson bought 100 shares of the stock in a transaction on Tuesday, February 4th. The shares were bought at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the purchase, the director now owns 3,053 shares in the company, valued at $1,116,085.21. This trade represents a 3.39 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

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.