Central Bank & Trust Co. Sells 2,100 Shares of Caterpillar Inc. (NYSE:CAT)

Central Bank & Trust Co. cut its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 8.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,449 shares of the industrial products company's stock after selling 2,100 shares during the period. Caterpillar accounts for about 1.2% of Central Bank & Trust Co.'s investment portfolio, making the stock its 27th largest position. Central Bank & Trust Co.'s holdings in Caterpillar were worth $7,074,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new position in Caterpillar during the fourth quarter worth $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Caterpillar during the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Caterpillar during the 4th quarter valued at about $27,000. Noble Wealth Management PBC bought a new position in shares of Caterpillar in the 4th quarter valued at approximately $31,000. Finally, Investment Management Corp VA ADV acquired a new stake in Caterpillar in the 4th quarter worth approximately $33,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Caterpillar stock traded up $4.53 during trading hours on Friday, hitting $353.49. The stock had a trading volume of 1,605,025 shares, compared to its average volume of 2,597,720. The company has a 50-day moving average of $320.74 and a two-hundred day moving average of $349.69. 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 Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50. The company has a market cap of $166.51 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37.

Caterpillar (NYSE:CAT - Get Free Report) last released 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). 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 prior year, the firm posted $5.60 earnings per share. On average, equities research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st were issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Monday, April 21st. Caterpillar's payout ratio is 27.49%.

Insider Activity

In related news, Director David Maclennan bought 375 shares of the business'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 transaction, the director now directly owns 6,653 shares of the company's stock, valued at $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CAT shares. Wall Street Zen downgraded Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Robert W. Baird upgraded shares of Caterpillar from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $309.00 to $395.00 in a report on Tuesday, May 13th. Citigroup boosted their target price on shares of Caterpillar from $320.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Bank of America raised their price target on Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Finally, UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $272.00 to $357.00 in a research report on Friday, May 16th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $372.92.

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.