Trinity Legacy Partners LLC Sells 14,031 Shares of Caterpillar Inc. $CAT

Key Points

• Trinity Legacy Partners LLC sold 14,031 shares of Caterpillar Inc., reducing its stake by 78.0% and now holds 3,968 shares valued at approximately $1.4 million.
• Institutional investors own around 70.98% of Caterpillar's stock, with notable increases in investments from firms like GAMMA Investing LLC and Pacer Advisors Inc..
• Caterpillar recently increased its quarterly dividend to $1.51 per share, reflecting a boost from the previous $1.41 and a dividend yield of 1.4%.

Trinity Legacy Partners LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 78.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,968 shares of the industrial products company's stock after selling 14,031 shares during the period. Trinity Legacy Partners LLC's holdings in Caterpillar were worth $1,399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CAT. GAMMA Investing LLC lifted its holdings in Caterpillar by 43,447.3% during the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock worth $1,230,239,000 after purchasing an additional 3,721,693 shares during the last quarter. Pacer Advisors Inc. increased its stake in Caterpillar by 2,723.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock worth $466,430,000 after acquiring an additional 1,364,183 shares during the period. Nuveen LLC bought a new position in Caterpillar during the 1st quarter worth $391,788,000. Northern Trust Corp increased its stake in Caterpillar by 11.8% during the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock worth $2,483,937,000 after acquiring an additional 724,477 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Caterpillar by 8.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,940,391 shares of the industrial products company's stock worth $1,429,416,000 after acquiring an additional 312,878 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider directly owned 8,632 shares of the company's stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares in the company, valued at $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Oppenheimer raised their price objective on Caterpillar from $395.00 to $483.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Robert W. Baird raised their price objective on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Barclays lifted their price target on Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. DA Davidson lifted their price target on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $450.87.

Caterpillar Trading Up 4.1%

NYSE CAT opened at $435.0040 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15. The company has a market cap of $203.79 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 2.49 and a beta of 1.40. The business's fifty day moving average is $405.71 and its 200 day moving average is $357.81.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same period last year, the business earned $5.99 EPS. The company's revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, July 21st. This is a boost from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio (DPR) is presently 30.72%.

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.

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