TI Trust Inc. Trims Stock Position in Caterpillar Inc. (NYSE:CAT)

TI Trust Inc. decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 36.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,456 shares of the industrial products company's stock after selling 3,080 shares during the quarter. Caterpillar comprises 1.2% of TI Trust Inc.'s holdings, making the stock its 19th largest holding. TI Trust Inc.'s holdings in Caterpillar were worth $1,799,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. Truist Financial boosted their price target on shares of Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research note on Monday. Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 target price for the company in a research note on Thursday, May 1st. Robert W. Baird boosted their price objective on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. 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 report on Friday, May 30th. Finally, DA Davidson boosted their price target on shares of Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. 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. According to data from MarketBeat, Caterpillar has an average rating of "Moderate Buy" and a consensus price target of $380.83.

Caterpillar Stock Performance

NYSE CAT opened at $371.63 on Thursday. The business's 50-day moving average price is $338.55 and its 200 day moving average price is $346.61. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The firm has a market cap of $175.05 billion, a P/E ratio of 18.11, a P/E/G ratio of 2.48 and a beta of 1.37. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $418.50.

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

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Monday, July 21st. This is a boost from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio (DPR) is 27.49%.

Insider Activity

In other Caterpillar news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the acquisition, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.33% of the company's stock.

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.

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