Trustmark Bank Trust Department Sells 349 Shares of Caterpillar Inc. $CAT

Trustmark Bank Trust Department trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 10.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,899 shares of the industrial products company’s stock after selling 349 shares during the period. Trustmark Bank Trust Department’s holdings in Caterpillar were worth $1,125,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CAT. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Caterpillar in the 2nd quarter worth approximately $28,000. Compass Financial Services Inc lifted its position in 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 acquired a new stake in Caterpillar during the second quarter worth $32,000. RiverPark Advisors LLC bought a new stake in Caterpillar in the 2nd quarter valued at $32,000. Finally, Harbor Asset Planning Inc. bought a new position in shares of Caterpillar during the 2nd quarter worth about $34,000. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In other Caterpillar news, insider Lange Bob De sold 14,638 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the completion of the sale, the insider owned 80,209 shares in the company, valued at approximately $45,106,333.24. The trade was a 15.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 8,184 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $570.18, for a total value of $4,666,353.12. Following the completion of the transaction, the insider owned 41,512 shares in the company, valued at $23,669,312.16. This represents a 16.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 86,229 shares of company stock worth $43,323,118. 0.33% of the stock is currently owned by company insiders.

Caterpillar Price Performance

Shares of CAT stock opened at $576.76 on Monday. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $269.91 billion, a price-to-earnings ratio of 29.61, a PEG ratio of 3.33 and a beta of 1.51. The firm’s 50 day moving average is $530.44 and its 200-day moving average is $444.81. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $596.21.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.52 by $0.43. The firm had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.17 EPS. Sell-side analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, October 20th were given a dividend of $1.51 per share. The ex-dividend date was Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.0%. Caterpillar’s dividend payout ratio is presently 31.01%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CAT. Barclays upped their price objective on Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. HSBC upgraded Caterpillar from a “hold” rating to a “buy” rating and increased their price objective for the stock from $405.00 to $660.00 in a research note on Wednesday, November 5th. Weiss Ratings restated a “buy (b)” rating on shares of Caterpillar in a research note on Monday, November 24th. Citigroup lifted their price target on shares of Caterpillar from $570.00 to $670.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Wells Fargo & Company started coverage on shares of Caterpillar in a research note on Thursday, November 13th. They set an “overweight” rating and a $675.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and an average price target of $610.32.

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.