Caterpillar Inc. (NYSE:CAT) Shares Sold by Diversified Trust Co

Diversified Trust Co lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 10.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,863 shares of the industrial products company’s stock after selling 818 shares during the quarter. Diversified Trust Co’s holdings in Caterpillar were worth $2,515,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CAT. Thompson Investment Management Inc. purchased a new position in shares of Caterpillar during the 1st quarter worth approximately $27,000. Partnership Wealth Management LLC purchased a new position in Caterpillar in the fourth quarter worth $26,000. Richardson Financial Services Inc. purchased a new stake in shares of Caterpillar during the 4th quarter worth $27,000. Vima LLC acquired a new position in shares of Caterpillar during the 4th quarter worth $30,000. Finally, Gilfoyle & Co LLC purchased a new position in shares of Caterpillar in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $329.08 on Tuesday. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $382.01. The firm’s 50 day moving average is $339.74 and its two-hundred day moving average is $329.78. The company has a market cap of $160.94 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.71 and a beta of 1.12. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The firm had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. Analysts expect that Caterpillar Inc. will post 21.84 EPS for the current year.

Caterpillar announced that its Board of Directors has initiated a share buyback program on Wednesday, June 12th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.71%. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Monday, July 22nd. Caterpillar’s payout ratio is 23.48%.

Insiders Place Their Bets

In related news, insider Lange Bob De sold 21,847 shares of Caterpillar stock in a transaction on Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the transaction, the insider now owns 71,115 shares in the company, valued at approximately $25,380,943.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Lange Bob De sold 21,847 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the transaction, the insider now directly owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Maclennan acquired 500 shares of the stock in a transaction on Friday, May 3rd. The stock was purchased at an average cost of $337.39 per share, with a total value of $168,695.00. Following the transaction, the director now directly owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The disclosure for this purchase can be found here. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CAT shares. Raymond James initiated coverage on shares of Caterpillar in a research report on Friday. They set a “market perform” rating on the stock. Stifel Nicolaus cut Caterpillar from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $293.00 to $350.00 in a report on Friday, April 26th. JPMorgan Chase & Co. upped their target price on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. HSBC lifted their price target on Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. Finally, TD Cowen increased their price objective on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $329.63.

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.