Caterpillar Inc. (NYSE:CAT) Shares Acquired by Farmers Trust Co.

Farmers Trust Co. lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 4.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,675 shares of the industrial products company’s stock after buying an additional 185 shares during the period. Farmers Trust Co.’s holdings in Caterpillar were worth $1,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Caterpillar by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock worth $14,296,641,000 after purchasing an additional 129,216 shares during the period. Capital World Investors boosted its position in shares of Caterpillar by 0.3% during the 4th quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock worth $8,583,372,000 after purchasing an additional 96,479 shares during the period. Fisher Asset Management LLC boosted its position in shares of Caterpillar by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 8,145,840 shares of the industrial products company’s stock worth $2,408,481,000 after purchasing an additional 179,908 shares during the period. Northern Trust Corp boosted its position in shares of Caterpillar by 1.6% during the 3rd quarter. Northern Trust Corp now owns 6,962,809 shares of the industrial products company’s stock worth $1,900,847,000 after purchasing an additional 111,384 shares during the period. Finally, Morgan Stanley boosted its position in shares of Caterpillar by 0.7% during the 3rd quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock worth $1,864,823,000 after purchasing an additional 47,258 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE CAT traded up $4.07 during trading on Thursday, reaching $329.21. The company’s stock had a trading volume of 1,010,002 shares, compared to its average volume of 2,598,479. The firm has a market cap of $161.00 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 1.67 and a beta of 1.14. The business’s fifty day moving average price is $344.92 and its 200-day moving average price is $325.57. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, beating the consensus estimate of $5.12 by $0.48. The business had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. As a group, analysts anticipate that Caterpillar Inc. will post 21.81 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be issued a $1.41 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $5.64 annualized dividend and a dividend yield of 1.71%. Caterpillar’s payout ratio is presently 23.48%.

Caterpillar announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 12th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. HSBC raised their price target on shares of Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Truist Financial assumed coverage on shares of Caterpillar in a research report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target for the company. The Goldman Sachs Group raised their price target on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. TD Cowen raised their price target on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Oppenheimer reissued a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $323.35.

Insider Activity

In related news, Director David Maclennan acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average price of $337.39 per share, with a total value of $168,695.00. Following the completion of the acquisition, the director now owns 5,738 shares in the company, valued at $1,935,943.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director David Maclennan acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average price of $337.39 per share, with a total value of $168,695.00. Following the completion of the acquisition, the director now owns 5,738 shares in the company, valued at $1,935,943.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction of $512,720.00. Following the sale, the insider now directly owns 20,023 shares in the company, valued at approximately $6,807,820. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Caterpillar 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.