1,735 Caterpillar Inc. $CAT Shares Sold by Diversified Trust Co

Diversified Trust Co lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 11.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 12,990 shares of the industrial products company’s stock after selling 1,735 shares during the quarter. Diversified Trust Co’s holdings in Caterpillar were worth $10,532,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vista Capital Partners Inc. bought a new position in shares of Caterpillar during the 3rd quarter worth $658,000. Aberdeen Group plc increased its holdings in Caterpillar by 1.1% in the 3rd quarter. Aberdeen Group plc now owns 552,061 shares of the industrial products company’s stock worth $447,606,000 after acquiring an additional 6,013 shares during the last quarter. Moors & Cabot Inc. raised its stake in Caterpillar by 0.4% in the 3rd quarter. Moors & Cabot Inc. now owns 16,336 shares of the industrial products company’s stock valued at $13,245,000 after acquiring an additional 69 shares during the period. Valmark Advisers Inc. raised its stake in Caterpillar by 4.3% in the 3rd quarter. Valmark Advisers Inc. now owns 4,775 shares of the industrial products company’s stock valued at $3,872,000 after acquiring an additional 195 shares during the period. Finally, Legacy Trust lifted its holdings in Caterpillar by 11.8% during the third quarter. Legacy Trust now owns 1,192 shares of the industrial products company’s stock valued at $966,000 after purchasing an additional 126 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CAT shares. Barclays increased their target price on shares of Caterpillar from $800.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Weiss Ratings downgraded shares of Caterpillar from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 29th. Wells Fargo & Company lowered their price target on shares of Caterpillar from $1,155.00 to $840.00 and set an “overweight” rating on the stock in a research report on Monday, October 26th. Wall Street Zen cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Finally, Truist Financial reaffirmed a “buy” rating and issued a $1,027.00 price objective (down from $1,100.00) on shares of Caterpillar in a report on Friday, October 30th. Fifteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $898.25.

Insider Activity

In other news, Director David Maclennan acquired 350 shares of the business’s stock in a transaction dated Thursday, November 12th. The stock was bought at an average cost of $596.10 per share, for a total transaction of $208,635.00. Following the completion of the transaction, the director owned 8,773 shares of the company’s stock, valued at $5,229,585.30. The trade was a 4.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director C Jr acquired 1,000 shares of Caterpillar stock in a transaction that occurred on Monday, November 2nd. The shares were purchased at an average cost of $620.39 per share, with a total value of $620,390.00. Following the purchase, the director owned 4,714 shares of the company’s stock, valued at $2,924,518.46. This represents a 26.93% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.33% of the stock is owned by company insiders.

Key Stories Impacting Caterpillar

Here are a few of the latest stories about CAT:

• Positive Sentiment: Caterpillar ended the third quarter with a record $78 billion backlog, nearly double the year-earlier level. Strong orders across construction, mining and power generation offer revenue visibility, while capacity expansion and automation investments could help support growth. CAT’s Record $78B Backlog Signals Strength
• Neutral Sentiment: A Trefis article examines how much downside may remain, but the provided summary gives no forecast or specific price target. How Much Downside Is Left In Caterpillar Stock?
• Negative Sentiment: Michael Burry reportedly profited from a Caterpillar options trade and is maintaining the position, suggesting continued bearish bets. The article summary does not specify the position’s size or terms. Michael Burry just made a big move on Caterpillar stock

Caterpillar Stock Performance

Shares of CAT opened at $599.80 on Friday. The stock’s 50-day simple moving average is $740.65 and its 200 day simple moving average is $805.20. The stock has a market capitalization of $274.46 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 1.05 and a beta of 1.65. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.88 and a current ratio of 1.42. Caterpillar Inc. has a 52-week low of $537.08 and a 52-week high of $1,073.46.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, October 29th. The industrial products company reported $7.20 EPS for the quarter, topping the consensus estimate of $7.06 by $0.14. The business had revenue of $20.68 billion during the quarter, compared to the consensus estimate of $20.76 billion. Caterpillar had a return on equity of 59.87% and a net margin of 15.21%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the company earned $4.95 EPS. Research analysts forecast that Caterpillar Inc. will post 27.38 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Monday, October 26th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 26th. Caterpillar’s dividend payout ratio is presently 25.58%.

Caterpillar Profile

Caterpillar Inc. is a global manufacturer of construction and mining equipment, engines, turbines, and related products and services. Its offerings include earthmoving and material-handling machines, diesel and natural gas engines, power-generation systems, and equipment and technologies used in mining and transportation. The company’s products are commonly sold under the Cat brand. Caterpillar serves customers in markets around the world through a network of independent dealers. Its businesses also provide parts, maintenance, equipment rental, and other support services, as well as financing and insurance through its financial services operations.