Trustmark National Bank Trust Department Lowers Holdings in Caterpillar Inc. (NYSE:CAT)

Trustmark National Bank Trust Department lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 24.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,698 shares of the industrial products company’s stock after selling 1,194 shares during the period. Trustmark National Bank Trust Department’s holdings in Caterpillar were worth $1,446,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CAT. Smallwood Wealth Investment Management LLC grew its stake in shares of Caterpillar by 2.6% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock worth $405,000 after buying an additional 26 shares in the last quarter. First Bank & Trust lifted its stake in shares of Caterpillar by 4.0% during the 3rd quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock worth $277,000 after acquiring an additional 27 shares during the last quarter. Washington Trust Bank lifted its position in shares of Caterpillar by 1.2% during the third quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock worth $919,000 after purchasing an additional 27 shares during the last quarter. Pacifica Partners Inc. boosted its position in Caterpillar by 1.6% in the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock valued at $707,000 after buying an additional 28 shares during the period. Finally, Vanguard Capital Wealth Advisors boosted its holdings in shares of Caterpillar by 0.8% in the third quarter. Vanguard Capital Wealth Advisors now owns 3,466 shares of the industrial products company’s stock valued at $1,356,000 after purchasing an additional 28 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CAT. Bank of America increased their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. increased their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Truist Financial upped their target price on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Barclays lifted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Finally, Citigroup dropped their target price on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $365.33.

Caterpillar Price Performance

CAT stock opened at $381.44 on Thursday. The business has a fifty day moving average of $384.76 and a two-hundred day moving average of $355.22. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 52-week low of $241.81 and a 52-week high of $418.50. The stock has a market cap of $184.16 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 1.89 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the business earned $5.52 earnings per share. As a group, research analysts anticipate that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were issued a dividend of $1.41 per share. The ex-dividend date was Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.48%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Insider Transactions at Caterpillar

In related news, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the sale, the insider now owns 71,107 shares in the company, valued at $29,171,646.75. This represents a 15.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. This trade represents a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,774 shares of company stock valued at $8,233,034. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Company 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.