Caterpillar Inc. (NYSE:CAT) Shares Sold by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC lowered its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,574 shares of the industrial products company's stock after selling 934 shares during the quarter. Plimoth Trust Co. LLC's holdings in Caterpillar were worth $3,817,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Caterpillar

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

Caterpillar Price Performance

NYSE CAT traded up $2.26 during trading hours on Friday, reaching $362.06. The company's stock had a trading volume of 1,263,401 shares, compared to its average volume of 2,543,771. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50. The stock has a market cap of $170.54 billion, a PE ratio of 17.62, a PEG ratio of 2.40 and a beta of 1.37. The company's 50-day moving average is $332.62 and its two-hundred day moving average is $347.41.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly 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). The firm had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. Caterpillar's revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $5.60 earnings per share. Analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a yield of 1.67%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio (DPR) is currently 29.43%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CAT shares. Bank of America raised their target price on shares of Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Truist Financial reissued a "buy" rating and issued a $396.00 price target (up previously from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. Citigroup upped their price objective on shares of Caterpillar from $320.00 to $370.00 and gave the company a "buy" rating in a report on Monday, May 5th. Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their target price for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Finally, DA Davidson raised their price objective on Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $375.17.

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.