Trustco Bank Corp N Y Has $369,000 Stock Holdings in Caterpillar Inc. $CAT

Trustco Bank Corp N Y lessened its holdings in Caterpillar Inc. (NYSE:CAT) by 9.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,118 shares of the industrial products company’s stock after selling 113 shares during the period. Trustco Bank Corp N Y’s holdings in Caterpillar were worth $369,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. McIlrath & Eck LLC boosted its position in shares of Caterpillar by 3.2% in the fourth quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company’s stock worth $349,000 after buying an additional 30 shares during the period. Allen Wealth Management LLC boosted its position in Caterpillar by 0.8% during the first quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company’s stock valued at $1,322,000 after purchasing an additional 30 shares during the last quarter. Warwick Investment Management Inc. boosted its position in Caterpillar by 2.6% during the first quarter. Warwick Investment Management Inc. now owns 1,167 shares of the industrial products company’s stock valued at $385,000 after purchasing an additional 30 shares during the last quarter. Asset Management Group Inc. boosted its position in Caterpillar by 0.3% during the fourth quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company’s stock valued at $3,907,000 after purchasing an additional 32 shares during the last quarter. Finally, Summit X LLC boosted its position in Caterpillar by 3.2% during the first quarter. Summit X LLC now owns 1,025 shares of the industrial products company’s stock valued at $338,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity

In related news, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the transaction, the director directly owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jason Kaiser sold 2,161 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of research reports. DA Davidson lifted their price objective on Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their price target on Caterpillar from $475.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Baird R W raised Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $272.00 to $357.00 in a research report on Friday, May 16th. Finally, Oppenheimer boosted their price target on Caterpillar from $395.00 to $483.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and a consensus price target of $450.87.

Caterpillar Price Performance

NYSE CAT opened at $433.17 on Thursday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The stock has a market capitalization of $202.93 billion, a PE ratio of 22.03, a P/E/G ratio of 2.57 and a beta of 1.40. The stock has a 50-day simple moving average of $410.05 and a 200 day simple moving average of $359.24.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) 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 the consensus estimate of $16.14 billion. During the same quarter in the prior year, the firm earned $5.99 earnings per share. The company’s revenue was down .7% on a year-over-year basis. Research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, July 21st were paid a dividend of $1.51 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, July 21st. Caterpillar’s dividend payout ratio is presently 30.72%.

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.