Summit Trail Advisors LLC Sells 9,407 Shares of Caterpillar Inc. (NYSE:CAT)

Summit Trail Advisors LLC decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 19.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,784 shares of the industrial products company’s stock after selling 9,407 shares during the period. Summit Trail Advisors LLC’s holdings in Caterpillar were worth $15,560,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CAT. Bbjs Financial Advisors LLC acquired a new stake in Caterpillar during the second quarter worth approximately $28,000. Financial Connections Group Inc. bought a new stake in shares of Caterpillar during the 2nd quarter valued at $28,000. Capital Performance Advisors LLP acquired a new stake in shares of Caterpillar during the 3rd quarter worth $36,000. Fairscale Capital LLC bought a new position in shares of Caterpillar in the second quarter worth $36,000. Finally, POM Investment Strategies LLC raised 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 purchasing an additional 108 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. UBS Group raised their target price on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a report on Monday, November 4th. Citigroup lowered their price objective on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Bank of America raised their target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Truist Financial upped their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Four equities research 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. According to data from MarketBeat.com, Caterpillar presently has an average rating of “Hold” and a consensus target price of $365.33.

Caterpillar Trading Up 2.0 %

CAT opened at $397.49 on Friday. The company’s 50 day moving average price is $386.81 and its two-hundred day moving average price is $355.92. The firm has a market capitalization of $191.91 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.92 and a beta of 1.10. Caterpillar Inc. has a fifty-two week low of $246.01 and a fifty-two week high of $418.50. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86.

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

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors 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 1.42%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

Insider Buying and Selling at Caterpillar

In other Caterpillar 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 transaction of $5,192,534.25. Following the sale, the insider now owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This trade represents a 8.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,774 shares of company stock valued at $8,233,034. 0.29% of the stock is currently owned by company insiders.

About Caterpillar

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.