Greenleaf Trust Has $5.41 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Greenleaf Trust lowered its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 7.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,411 shares of the industrial products company's stock after selling 1,330 shares during the period. Greenleaf Trust's holdings in Caterpillar were worth $5,412,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CAT. Pacific Point Advisors LLC acquired a new position in Caterpillar during the fourth quarter worth $579,000. Brighton Jones LLC grew its holdings in Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after purchasing an additional 2,519 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in Caterpillar by 38.3% during the fourth quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company's stock valued at $805,000 after purchasing an additional 614 shares during the last quarter. AlphaQuest LLC grew its holdings in Caterpillar by 196.7% during the fourth quarter. AlphaQuest LLC now owns 1,733 shares of the industrial products company's stock valued at $629,000 after purchasing an additional 1,149 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its holdings in Caterpillar by 1.3% during the fourth quarter. Johnson Investment Counsel Inc. now owns 12,659 shares of the industrial products company's stock valued at $4,592,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Wall Street Analysts Forecast Growth

CAT has been the topic of several analyst reports. Truist Financial increased their price target on Caterpillar from $396.00 to $414.00 and gave the company a "buy" rating in a report on Monday, June 23rd. JPMorgan Chase & Co. raised their price target on Caterpillar from $395.00 to $475.00 and gave the company an "overweight" rating in a research report on Thursday. Citigroup reaffirmed a "buy" rating and issued a $420.00 price target (up from $370.00) on shares of Caterpillar in a research report on Tuesday, June 24th. Bank of America raised their price objective on shares of Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Finally, Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their price objective for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of "Moderate Buy" and an average price target of $404.64.

Caterpillar Price Performance

Shares of NYSE:CAT traded up $6.04 on Thursday, hitting $408.22. The stock had a trading volume of 3,382,685 shares, compared to its average volume of 2,533,871. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. The firm's 50 day moving average price is $357.26 and its 200-day moving average price is $347.63. The company has a market capitalization of $192.29 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 2.67 and a beta of 1.38.

Caterpillar (NYSE:CAT - Get Free Report) last issued its 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). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The firm had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the prior year, the firm posted $5.60 EPS. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be issued a $1.51 dividend. This is an increase from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's payout ratio is presently 27.49%.

Insider Activity at Caterpillar

In related news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the transaction, the director directly owned 6,653 shares in the company, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.33% of the stock is owned by insiders.

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.