Fiduciary Trust Co Purchases 1,552 Shares of Caterpillar Inc. (NYSE:CAT)

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAT. Flagship Wealth Advisors LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at $26,000. Halbert Hargrove Global Advisors LLC bought a new position in Caterpillar during the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC bought a new position in Caterpillar during the 4th quarter worth about $27,000. Noble Wealth Management PBC bought a new stake in Caterpillar in the 4th quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC bought a new stake in Caterpillar in the 4th quarter valued at approximately $34,000. 70.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director David Maclennan purchased 375 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the acquisition, the director now owns 6,653 shares of the company's stock, valued at $2,133,617.10. This represents a 5.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the company's stock in a transaction on 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 transaction, the insider now owns 6,275 shares of the company's stock, valued at $2,225,742.50. This trade represents a 27.87% decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Trading Down 0.7%

Shares of CAT stock traded down $2.63 during mid-day trading on Wednesday, reaching $349.91. 1,171,247 shares of the stock traded hands, compared to its average volume of 2,633,976. The stock's fifty day simple moving average is $317.07 and its two-hundred day simple moving average is $354.64. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. The company has a market cap of $164.82 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. 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 data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter last year, the business earned $5.60 earnings per share. Caterpillar's revenue was down 9.8% compared to the same quarter last year. On average, research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st will be issued a $1.41 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.61%. Caterpillar's payout ratio is currently 27.49%.

Wall Street Analyst Weigh In

CAT has been the subject of several recent analyst reports. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and increased their price objective for the company from $355.00 to $385.00 in a report on Monday, February 3rd. Baird R W raised Caterpillar from a "strong sell" rating to a "hold" rating in a report on Thursday, May 1st. Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price objective on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. reduced their target price on Caterpillar from $490.00 to $380.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Truist Financial reissued a "buy" rating and set a $396.00 target price (up from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $377.83.

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.