Fiduciary Trust Co Has $24.50 Million Stake in Caterpillar Inc. (NYSE:CAT)

Fiduciary Trust Co increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 62,632 shares of the industrial products company’s stock after buying an additional 687 shares during the quarter. Fiduciary Trust Co’s holdings in Caterpillar were worth $24,497,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bbjs Financial Advisors LLC bought a new stake in Caterpillar during the second quarter worth about $28,000. Financial Connections Group Inc. acquired a new position in shares of Caterpillar in the 2nd quarter valued at approximately $28,000. Capital Performance Advisors LLP bought a new stake in shares of Caterpillar during the 3rd quarter worth approximately $36,000. Fairscale Capital LLC acquired a new stake in shares of Caterpillar during the 2nd quarter worth approximately $36,000. Finally, POM Investment Strategies LLC increased its stake in Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 108 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE CAT opened at $403.65 on Thursday. The company has a market capitalization of $194.88 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 2.00 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $246.01 and a twelve month high of $418.50. The stock has a fifty day simple moving average of $390.02 and a 200 day simple moving average of $357.08. 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 (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter last year, the business earned $5.52 earnings per share. Caterpillar’s revenue was down 4.2% compared to the same quarter last year. Sell-side analysts expect that Caterpillar Inc. will post 21.67 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

Insider Transactions at Caterpillar

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the stock in a transaction on Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 3.65 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Lange Bob De sold 12,657 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 71,107 shares in the company, valued at approximately $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,774 shares of company stock worth $8,233,034 over the last three months. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CAT has been the topic of a number of research analyst reports. UBS Group raised their target price on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a report on Monday, November 4th. JPMorgan Chase & Co. raised their price objective on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Evercore ISI cut Caterpillar from an “in-line” rating to an “underperform” rating and lifted their target price for the company from $321.00 to $365.00 in a research report on Wednesday, November 13th. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Finally, Truist Financial lifted their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $365.33.

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.