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

Fiduciary Trust Co boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 1.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 62,632 shares of the industrial products company’s stock after acquiring an additional 687 shares during the period. Fiduciary Trust Co’s holdings in Caterpillar were worth $24,497,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Alpha Cubed Investments LLC grew its holdings in Caterpillar by 5.6% during the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after purchasing an additional 6,212 shares during the period. Citizens Financial Group Inc. RI boosted its position in shares of Caterpillar by 43.0% during the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock worth $5,437,000 after purchasing an additional 4,181 shares in the last quarter. First Affirmative Financial Network acquired a new position in shares of Caterpillar in the 3rd quarter valued at $204,000. Inspire Advisors LLC increased its position in shares of Caterpillar by 25.8% in the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after buying an additional 1,694 shares in the last quarter. Finally, Jackson Square Capital LLC raised its stake in Caterpillar by 33.7% during the 3rd quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock worth $6,485,000 after buying an additional 4,182 shares during the period. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In related news, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total value of $543,400.00. Following the transaction, the director now owns 4,976 shares in the company, valued at approximately $2,079,968. This represents a 20.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lange Bob De sold 12,657 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 $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. In the last three months, insiders have sold 20,774 shares of company stock valued at $8,233,034. 0.29% of the stock is owned by insiders.

Caterpillar Price Performance

NYSE:CAT opened at $403.65 on Thursday. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm has a fifty day simple moving average of $390.02 and a 200 day simple moving average of $357.08. Caterpillar Inc. has a 1-year low of $246.01 and a 1-year high of $418.50. The stock has a market capitalization of $194.88 billion, a PE ratio of 18.71, a P/E/G ratio of 2.00 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same quarter in the prior year, the firm earned $5.52 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, research analysts expect that Caterpillar Inc. will post 21.67 EPS for the current fiscal year.

Caterpillar Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on CAT shares. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $349.00 to $332.00 in a report on Monday, October 14th. JPMorgan Chase & Co. increased their target price on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. 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 research note on Wednesday, October 9th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Bank of America upped their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.