Summit Trail Advisors LLC Has $15.56 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Summit Trail Advisors LLC trimmed its position in Caterpillar Inc. (NYSE:CAT) by 19.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,784 shares of the industrial products company’s stock after selling 9,407 shares during the quarter. Summit Trail Advisors LLC’s holdings in Caterpillar were worth $15,560,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CAT. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $349.00 to $332.00 in a research report on Monday, October 14th. UBS Group increased their price target on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Truist Financial lifted their price objective on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird increased their target price on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Finally, Evercore ISI lowered shares of Caterpillar from an “in-line” rating to an “underperform” rating and lifted their price target for the company from $321.00 to $365.00 in a research note on Wednesday, November 13th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Caterpillar presently has a consensus rating of “Hold” and an average price target of $365.33.

Caterpillar Price Performance

NYSE:CAT opened at $397.49 on Friday. The stock’s 50-day simple moving average is $386.81 and its 200 day simple moving average is $355.92. Caterpillar Inc. has a 52-week low of $246.01 and a 52-week high of $418.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The company has a market cap of $191.91 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.92 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced 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). The company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.52 EPS. As a group, sell-side analysts forecast that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were given 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 (DPR) is presently 26.15%.

Insider Transactions at Caterpillar

In other news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. The trade was a 8.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, 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 disclosure for this purchase can be found here. Insiders have sold 20,774 shares of company stock worth $8,233,034 in the last ninety days. Insiders own 0.29% 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.