Fiduciary Trust Co Increases Stock Position in Caterpillar Inc. (NYSE:CAT)

Fiduciary Trust Co raised its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,184 shares of the industrial products company's stock after acquiring an additional 1,552 shares during the quarter. Fiduciary Trust Co's holdings in Caterpillar were worth $23,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Caterpillar during the 4th quarter valued at $2,184,364,000. Capital Research Global Investors increased its holdings in Caterpillar by 69.3% in the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock valued at $1,060,730,000 after acquiring an additional 1,196,861 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Caterpillar in the 4th quarter valued at $353,231,000. Proficio Capital Partners LLC increased its holdings in Caterpillar by 50,072.7% in the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company's stock valued at $291,938,000 after acquiring an additional 803,166 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Caterpillar by 11.8% in the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock valued at $2,483,937,000 after acquiring an additional 724,477 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CAT. Baird R W upgraded shares of Caterpillar from a "strong sell" rating to a "hold" rating in a report on Thursday, May 1st. UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and lifted their price target for the company from $355.00 to $385.00 in a report on Monday, February 3rd. Raymond James upgraded shares of Caterpillar from a "market perform" rating to an "outperform" rating in a report on Monday, February 3rd. DA Davidson lifted their price target on shares of Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Finally, Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and reduced their target price for the stock from $300.00 to $283.00 in a report on Wednesday, April 16th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $370.67.

Caterpillar Trading Up 0.4%

NYSE:CAT traded up $1.22 during mid-day trading on Friday, hitting $325.47. 1,646,220 shares of the stock traded hands, compared to its average volume of 2,623,458. The stock has a market capitalization of $153.31 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.87 and a beta of 1.35. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The firm's 50 day moving average is $316.76 and its two-hundred day moving average is $354.96. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). The firm had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The business's revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.60 earnings per share. On average, equities research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Monday, April 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $5.64 annualized dividend and a yield of 1.73%. Caterpillar's payout ratio is 27.49%.

Insider Activity at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the sale, the insider now directly owns 6,275 shares of the company's stock, valued at $2,225,742.50. The trade was a 27.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Maclennan acquired 375 shares of the stock in a transaction on Wednesday, May 7th. The stock was bought at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director now owns 6,653 shares in the company, valued at $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by insiders.

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.