Trust Co. of Virginia VA cut its stake in shares of Caterpillar Inc. (NYSE:CAT – Get Rating) by 22.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,742 shares of the industrial products company’s stock after selling 500 shares during the quarter. Trust Co. of Virginia VA’s holdings in Caterpillar were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in CAT. Crewe Advisors LLC grew its holdings in shares of Caterpillar by 322.6% during the 4th quarter. Crewe Advisors LLC now owns 131 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Sierra Capital LLC bought a new stake in shares of Caterpillar during the 4th quarter valued at approximately $38,000. IMA Wealth Inc. bought a new stake in shares of Caterpillar during the 4th quarter valued at approximately $41,000. DB Fitzpatrick & Co Inc bought a new stake in shares of Caterpillar during the 4th quarter valued at approximately $42,000. Finally, Lloyd Advisory Services LLC. grew its holdings in shares of Caterpillar by 3,042.9% during the 4th quarter. Lloyd Advisory Services LLC. now owns 220 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 213 shares during the last quarter. 67.44% of the stock is currently owned by institutional investors.
In other Caterpillar news, General Counsel Suzette M. Long sold 3,816 shares of the business’s stock in a transaction on Wednesday, April 20th. The shares were sold at an average price of $235.00, for a total transaction of $896,760.00. Following the completion of the sale, the general counsel now owns 10,549 shares in the company, valued at approximately $2,479,015. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph E. Creed sold 5,004 shares of the company’s stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of $235.00, for a total transaction of $1,175,940.00. Following the completion of the sale, the insider now owns 2,757 shares of the company’s stock, valued at approximately $647,895. The disclosure for this sale can be found here. Insiders have sold a total of 11,577 shares of company stock worth $2,663,056 in the last quarter. 0.18% of the stock is owned by corporate insiders.
Caterpillar (NYSE:CAT – Get Rating) last released its earnings results on Thursday, April 28th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.22. Caterpillar had a net margin of 12.33% and a return on equity of 35.10%. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.49 billion. During the same quarter in the previous year, the company earned $2.87 EPS. Caterpillar’s quarterly revenue was up 14.4% compared to the same quarter last year. Sell-side analysts expect that Caterpillar Inc. will post 12.64 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Wednesday, July 20th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Tuesday, July 19th. This is an increase from Caterpillar’s previous quarterly dividend of $1.11. Caterpillar’s payout ratio is presently 37.22%.
CAT has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Caterpillar from $250.00 to $240.00 in a research report on Friday, April 29th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company initiated coverage on shares of Caterpillar in a research report on Friday, March 11th. They set an “equal weight” rating and a $231.00 target price on the stock. Robert W. Baird reiterated an “outperform” rating and set a $280.00 target price on shares of Caterpillar in a research report on Thursday, May 19th. Finally, Morgan Stanley cut their target price on shares of Caterpillar from $164.00 to $161.00 and set an “underweight” rating on the stock in a research report on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $243.50.
Caterpillar Company Profile (Get Rating)
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.
- Get a free copy of the StockNews.com research report on Caterpillar (CAT)
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