Community Trust & Investment Co. Purchases New Holdings in Caterpillar Inc. (NYSE:CAT)

Community Trust & Investment Co. acquired a new stake in Caterpillar Inc. (NYSE:CAT) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,020 shares of the industrial products company’s stock, valued at approximately $399,000.

Several other large investors also recently modified their holdings of the stock. Thompson Investment Management Inc. acquired a new position in shares of Caterpillar in the 1st quarter worth approximately $27,000. Fairman Group LLC acquired a new position in Caterpillar during the 1st quarter worth $29,000. Bbjs Financial Advisors LLC acquired a new position in Caterpillar during the 2nd quarter worth $28,000. Financial Connections Group Inc. acquired a new position in Caterpillar during the 2nd quarter worth $28,000. Finally, Fairscale Capital LLC acquired a new position in Caterpillar during the 2nd quarter worth $36,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

Shares of NYSE CAT opened at $388.48 on Wednesday. The stock has a market capitalization of $189.99 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 1.85 and a beta of 1.10. The business has a 50-day moving average of $365.94 and a 200-day moving average of $350.37. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $403.60.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. During the same period last year, the business posted $5.55 EPS. Caterpillar’s revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.45%. Caterpillar’s dividend payout ratio (DPR) is currently 25.46%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Evercore ISI cut their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Barclays increased their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Bank of America upped their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. UBS Group upped their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Finally, Citigroup increased their target price on Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $355.50.

Insider Activity at Caterpillar

In related news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

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.