Caterpillar Inc. $CAT Stake Raised by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH grew its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 10.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 12,641 shares of the industrial products company’s stock after purchasing an additional 1,150 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Caterpillar were worth $4,907,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Compass Financial Services Inc raised its stake in shares of Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC bought a new stake in Caterpillar during the second quarter worth approximately $32,000. Redmont Wealth Advisors LLC bought a new stake in Caterpillar during the first quarter worth approximately $33,000. Total Wealth Planning & Management Inc. bought a new stake in Caterpillar during the second quarter worth approximately $38,000. Finally, Fiduciary Wealth Partners LLC bought a new stake in shares of Caterpillar in the 1st quarter worth $45,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 1.7%

CAT stock opened at $491.67 on Friday. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $511.50. The company’s 50 day simple moving average is $443.23 and its 200-day simple moving average is $383.88. 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 firm has a market capitalization of $230.34 billion, a P/E ratio of 25.01, a P/E/G ratio of 3.04 and a beta of 1.46.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same period last year, the firm earned $5.99 earnings per share. Caterpillar’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities research analysts anticipate 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. Stockholders of record on Monday, October 20th will be issued a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.2%. Caterpillar’s dividend payout ratio is currently 30.72%.

Insider Activity

In other news, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the transaction, the director directly owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares in the company, valued at $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,819 shares of company stock worth $16,885,492 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CAT. Oppenheimer boosted their price objective on Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Truist Financial boosted their price target on shares of Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup boosted their target price on shares of Caterpillar from $540.00 to $570.00 and gave the stock a “buy” rating in a report on Tuesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Caterpillar in a report on Saturday, September 27th. Finally, DA Davidson upped their price target on Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $478.20.

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.