CENTRAL TRUST Co Reduces Holdings in Caterpillar Inc. (NYSE:CAT)

CENTRAL TRUST Co reduced its position in Caterpillar Inc. (NYSE:CAT) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,216 shares of the industrial products company’s stock after selling 451 shares during the period. CENTRAL TRUST Co’s holdings in Caterpillar were worth $16,512,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Global Assets Advisory LLC boosted its holdings in Caterpillar by 15.2% in the third quarter. Global Assets Advisory LLC now owns 760 shares of the industrial products company’s stock valued at $298,000 after purchasing an additional 100 shares during the last quarter. Patrick M Sweeney & Associates Inc. grew its position in shares of Caterpillar by 1.2% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 3,759 shares of the industrial products company’s stock worth $1,470,000 after buying an additional 46 shares in the last quarter. Great Lakes Retirement Inc. raised its holdings in Caterpillar by 12.4% in the third quarter. Great Lakes Retirement Inc. now owns 6,247 shares of the industrial products company’s stock valued at $2,443,000 after acquiring an additional 690 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Caterpillar by 39,534.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after acquiring an additional 2,131,276 shares during the last quarter. Finally, Heartland Bank & Trust Co acquired a new position in Caterpillar during the 3rd quarter worth $1,074,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $385.59 on Thursday. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $403.60. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The company’s 50-day moving average price is $366.90 and its two-hundred day moving average price is $350.61. The stock has a market cap of $188.57 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same period in the prior year, the business earned $5.55 earnings per share. The business’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.46%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is 25.46%.

Analyst Ratings Changes

Several brokerages recently weighed in on CAT. Barclays boosted their price objective on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Truist Financial increased their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Raymond James began coverage on Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Caterpillar presently has an average rating of “Hold” and an average price target of $355.50.

Insider Transactions at Caterpillar

In related news, Director Gerald Johnson acquired 100 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by 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.