Caterpillar Inc. (NYSE:CAT) Shares Bought by Truist Financial Corp

Truist Financial Corp increased its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 2.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 216,063 shares of the industrial products company's stock after buying an additional 5,842 shares during the period. Truist Financial Corp's holdings in Caterpillar were worth $71,258,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Flagship Wealth Advisors LLC purchased a new stake in shares of Caterpillar during the fourth quarter valued at about $26,000. Cyrus J. Lawrence LLC acquired a new stake in Caterpillar in the fourth quarter valued at approximately $27,000. Investment Management Corp VA ADV purchased a new position in Caterpillar in the fourth quarter worth $33,000. Quarry LP acquired a new position in shares of Caterpillar during the fourth quarter worth $35,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Caterpillar in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analysts Set New Price Targets

CAT has been the topic of a number of research analyst reports. DA Davidson boosted their price target on Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Citigroup restated a "buy" rating and set a $420.00 price target (up previously from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th. Truist Financial lifted their price objective on shares of Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. 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. Finally, Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target on the stock in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Caterpillar has a consensus rating of "Moderate Buy" and a consensus price target of $380.83.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan bought 375 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were purchased at an average price of $320.70 per share, with a total value of $120,262.50. Following the purchase, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.33% of the company's stock.

Caterpillar Stock Performance

Shares of NYSE:CAT traded down $6.32 during trading on Monday, hitting $391.54. 3,012,185 shares of the company traded hands, compared to its average volume of 2,526,773. The stock has a market capitalization of $184.43 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 2.64 and a beta of 1.38. Caterpillar Inc. has a one year low of $267.30 and a one year high of $418.50. 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 business's fifty day moving average is $351.96 and its 200-day moving average is $346.74.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. 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 prior year, the business earned $5.60 earnings per share. Caterpillar's quarterly revenue was down 9.8% on a year-over-year basis. As a group, equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced 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. This represents a $6.04 dividend on an annualized basis and a yield of 1.54%. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. Caterpillar's payout ratio is presently 27.49%.

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.