Caterpillar Inc. (NYSE:CAT) Shares Sold by Central Bank & Trust Co.

Central Bank & Trust Co. decreased its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 8.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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.

Other large investors have also added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new position in Caterpillar in the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Caterpillar in the fourth quarter worth $27,000. Cyrus J. Lawrence LLC bought a new position in shares of Caterpillar during the fourth quarter worth $27,000. Noble Wealth Management PBC bought a new stake in Caterpillar in the 4th quarter valued at $31,000. Finally, Investment Management Corp VA ADV bought a new position in shares of Caterpillar during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Stock Up 1.3%

Shares of CAT stock traded up $4.52 during mid-day trading on Wednesday, hitting $363.09. The stock had a trading volume of 2,551,205 shares, compared to its average volume of 2,592,768. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The firm's 50-day moving average is $322.25 and its two-hundred day moving average is $349.19. The firm has a market capitalization of $171.03 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37.

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

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.66%. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio (DPR) is presently 27.49%.

Insider Buying and Selling

In related news, Director David Maclennan purchased 375 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director now owns 6,653 shares of the company's stock, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CAT has been the topic of a number of research analyst reports. Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. DA Davidson increased their target price on Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Wall Street Zen downgraded shares of Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on shares of Caterpillar from $490.00 to $380.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, Evercore ISI reduced their price objective on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research note on Monday, May 19th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $372.92.

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.