TIAA Trust National Association Sells 611 Shares of Caterpillar Inc. (NYSE:CAT)

Key Points

• TIAA Trust National Association reduced its stake in Caterpillar Inc. by 2.7%, selling 611 shares and owning a total of 22,257 shares worth $7,340,000.
• Caterpillar announced a quarterly dividend increase to $1.51 per share, up from $1.41, with an annualized payout ratio of 29.43%.
• Analysts have set a consensus price target of $419.33 for Caterpillar, with ratings varying from "hold" to "strong buy" from different firms.

TIAA Trust National Association lessened its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,257 shares of the industrial products company's stock after selling 611 shares during the quarter. TIAA Trust National Association's holdings in Caterpillar were worth $7,340,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Helium Advisors LLC lifted its holdings in shares of Caterpillar by 35.0% during the 1st quarter. Helium Advisors LLC now owns 776 shares of the industrial products company's stock valued at $256,000 after purchasing an additional 201 shares during the last quarter. Blueshift Asset Management LLC lifted its holdings in shares of Caterpillar by 46.5% during the 1st quarter. Blueshift Asset Management LLC now owns 2,792 shares of the industrial products company's stock valued at $921,000 after purchasing an additional 886 shares during the last quarter. Castellan Group purchased a new stake in shares of Caterpillar during the 1st quarter valued at $677,000. MONECO Advisors LLC lifted its holdings in shares of Caterpillar by 7.3% during the 1st quarter. MONECO Advisors LLC now owns 5,879 shares of the industrial products company's stock valued at $1,939,000 after purchasing an additional 401 shares during the last quarter. Finally, EagleClaw Capital Managment LLC lifted its holdings in shares of Caterpillar by 8.2% during the 1st quarter. EagleClaw Capital Managment LLC now owns 18,550 shares of the industrial products company's stock valued at $6,118,000 after purchasing an additional 1,400 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan bought 375 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the transaction, the director directly owned 6,653 shares of the company's stock, valued at approximately $2,133,617.10. The trade was 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 this hyperlink. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Performance

NYSE CAT opened at $428.85 on Friday. The stock has a 50-day simple moving average of $385.66 and a two-hundred day simple moving average of $354.22. The firm has a market capitalization of $202.01 billion, a P/E ratio of 20.90, a PEG ratio of 2.68 and a beta of 1.40. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $441.15. 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 (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 for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). The company had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business's quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.60 EPS. On average, equities analysts forecast 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 given a dividend of $1.51 per share. This is a boost from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.4%. Caterpillar's payout ratio is 29.43%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Caterpillar from $395.00 to $475.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Robert W. Baird raised their target price on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Sanford C. Bernstein restated a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Finally, Truist Financial raised their target price on Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $419.33.

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.

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