Whittier Trust Co. of Nevada Inc. Sells 407 Shares of Caterpillar Inc. (NYSE:CAT)

Whittier Trust Co. of Nevada Inc. trimmed its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,589 shares of the industrial products company’s stock after selling 407 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Caterpillar were worth $11,407,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. McIlrath & Eck LLC grew its position in shares of Caterpillar by 3.2% during the fourth quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company’s stock worth $349,000 after acquiring an additional 30 shares during the last quarter. Asset Management Group Inc. grew its position in shares of Caterpillar by 0.3% during the fourth quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company’s stock worth $3,907,000 after acquiring an additional 32 shares during the last quarter. Dunhill Financial LLC grew its position in shares of Caterpillar by 21.3% during the fourth quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 36 shares during the last quarter. Silvia Mccoll Wealth Management LLC grew its position in shares of Caterpillar by 2.1% during the first quarter. Silvia Mccoll Wealth Management LLC now owns 1,752 shares of the industrial products company’s stock worth $578,000 after acquiring an additional 36 shares during the last quarter. Finally, Insight Advisors LLC PA grew its position in shares of Caterpillar by 2.6% during the first quarter. Insight Advisors LLC PA now owns 1,446 shares of the industrial products company’s stock worth $477,000 after acquiring an additional 36 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Trading Down 0.0%

NYSE:CAT opened at $405.90 on Tuesday. The company has a market capitalization of $191.20 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 2.70 and a beta of 1.38. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $418.50. The stock has a fifty day simple moving average of $362.45 and a 200-day simple moving average of $348.21.

Caterpillar (NYSE:CAT) 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). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The firm had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same period last year, the firm earned $5.60 EPS. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. On average, equities research analysts expect 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. Investors of record on Monday, July 21st will be paid a $1.51 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 annualized dividend and a yield of 1.49%. Caterpillar’s payout ratio is presently 29.43%.

Insider Buying and Selling

In other Caterpillar news, Director David Maclennan purchased 375 shares of the stock in a transaction on Wednesday, May 7th. The stock was bought at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director directly owned 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 filing with the SEC, which is available at this link. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CAT shares. Truist Financial lifted their price objective on shares of Caterpillar from $396.00 to $414.00 and gave the company a “buy” rating in a research report on Monday, June 23rd. Baird R W upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. DA Davidson lifted their price objective on shares of Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Evercore ISI lowered their price objective on shares of Caterpillar from $375.00 to $373.00 and set an “in-line” rating on the stock in a research report on Monday, May 19th. Finally, Oppenheimer upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price objective on the stock in a research report on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Caterpillar has an average rating of “Moderate Buy” and a consensus target price of $406.47.

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.