First National Trust Co Sells 492 Shares of Caterpillar Inc. $CAT

First National Trust Co reduced its position in Caterpillar Inc. (NYSE:CAT) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,409 shares of the industrial products company’s stock after selling 492 shares during the period. First National Trust Co’s holdings in Caterpillar were worth $17,628,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Aire Advisors LLC lifted its stake in shares of Caterpillar by 0.3% in the second quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock valued at $3,510,000 after buying an additional 25 shares in the last quarter. Dumont & Blake Investment Advisors LLC lifted its position in Caterpillar by 0.5% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock valued at $1,923,000 after acquiring an additional 25 shares in the last quarter. GSB Wealth Management LLC lifted its position in Caterpillar by 1.2% in the 2nd quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock valued at $832,000 after acquiring an additional 26 shares in the last quarter. Verum Partners LLC lifted its holdings in shares of Caterpillar by 2.5% in the second quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock valued at $411,000 after purchasing an additional 26 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors lifted its holdings in shares of Caterpillar by 0.8% in the second quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock valued at $1,388,000 after purchasing an additional 27 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Performance

Shares of CAT stock opened at $527.12 on Tuesday. The firm has a market cap of $246.95 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 2.98 and a beta of 1.46. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $544.99. The firm’s 50-day simple moving average is $466.75 and its two-hundred day simple moving average is $401.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). The company had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $5.99 EPS. As a group, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. Caterpillar’s payout ratio is presently 30.72%.

Insider Buying and Selling at Caterpillar

In related 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 sale, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 sale, the director 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. Insiders have sold a total of 55,985 shares of company stock worth $25,559,300 over the last ninety days. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CAT. Truist Financial raised their target price on Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Sanford C. Bernstein raised their price objective on Caterpillar from $447.00 to $502.00 and gave the company a “market perform” rating in a research note on Tuesday, October 14th. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a research report on Wednesday, July 9th. DA Davidson raised their price target on shares of Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Finally, Robert W. Baird lifted their target price on shares of Caterpillar from $540.00 to $612.00 in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $518.19.

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.