Trust Investment Advisors Has $2.49 Million Stock Holdings in Caterpillar Inc. $CAT

Trust Investment Advisors lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 5.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 6,422 shares of the industrial products company’s stock after selling 345 shares during the quarter. Caterpillar accounts for approximately 1.5% of Trust Investment Advisors’ portfolio, making the stock its 12th biggest position. Trust Investment Advisors’ holdings in Caterpillar were worth $2,493,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CAT. Mid American Wealth Advisory Group Inc. acquired a new position in Caterpillar during the 2nd quarter worth approximately $28,000. Compass Financial Services Inc increased its holdings in shares of Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar during the second quarter worth approximately $32,000. Redmont Wealth Advisors LLC acquired a new stake in Caterpillar in the 1st quarter valued at $33,000. Finally, Harbor Asset Planning Inc. acquired a new stake in Caterpillar in the 2nd quarter valued at $34,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAT has been the topic of a number of recent research reports. Truist Financial raised their price objective on shares of Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Barclays lifted their price target on Caterpillar from $425.00 to $485.00 and gave the company an “equal weight” rating in a research note on Friday, October 17th. JPMorgan Chase & Co. boosted their price objective on Caterpillar from $505.00 to $650.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Finally, Jefferies Financial Group raised their target price on Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Caterpillar has a consensus rating of “Moderate Buy” and an average target price of $518.19.

Insider Activity

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director directly owned 6,917 shares of the company’s stock, valued at $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the transaction, the chairman owned 482,505 shares of the company’s stock, valued at $199,211,839.35. The trade was a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,985 shares of company stock valued at $25,559,300 in the last 90 days. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

CAT stock opened at $527.12 on Tuesday. The firm has a market cap of $246.95 billion, a PE ratio of 26.81, a P/E/G ratio of 2.98 and a beta of 1.46. The business has a 50 day moving average of $466.75 and a 200-day moving average of $401.50. 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 12-month low of $267.30 and a 12-month high of $544.99.

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, sell-side analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

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 given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is currently 30.72%.

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.